## Democratic Republic of Timor-Leste: 2013 Article IV Consultation

_IMF Staff Country Reports, December 2, 2013_

## Source details

**Canonical URL:** [Democratic Republic of Timor-Leste: 2013 Article IV Consultation](https://www.imf.org/en/publications/cr/issues/2016/12/31/democratic-republic-of-timor-leste-2013-article-iv-consultation-41079)

## Other formats

- [Markdown version](/en/publications/cr/issues/2016/12/31/democratic-republic-of-timor-leste-2013-article-iv-consultation-41079/index.md)
- [Structured JSON version](/en/publications/cr/issues/2016/12/31/democratic-republic-of-timor-leste-2013-article-iv-consultation-41079/index.json)
- [Bundle manifest](/en/publications/cr/issues/2016/12/31/democratic-republic-of-timor-leste-2013-article-iv-consultation-41079/bundle-manifest.json)

## Bibliographic details
- Published: December 2, 2013
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475518672.002

---

### Key findings
- The non-oil economy grew rapidly in recent years, with growth averaging close to 12 percent from 2008 to 2011.
- Rapid increase in government spending was the primary growth driver, boosting the public administration and construction sectors.
- Contributions from agriculture and manufacturing have been modest to date.
- Inflation fell from a peak of more than 15 percent in 2011 but remained in double digits at the time of the report.
- Executive Directors welcomed the revised budgetary framework that anticipates a stabilization of government expenditures and revenue diversification.

### Macroeconomic indicators and fiscal outlook (as described in the report)
- Non-oil economy growth: close to 12 percent (average, 2008–2011).
- Inflation: peak of more than 15 percent in 2011; subsequently falling but still in double digits.
- Government spending: described as having increased rapidly and being the central driver of recent growth.
- Sectoral impacts: public administration and construction sectors significantly expanded; agriculture and manufacturing contributed modestly.

### Policy analysis and recommendations (as reflected in the consultation)
- Revised budgetary framework: welcomed by Executive Directors for anticipating stabilization of government expenditures.
- Revenue strategy: emphasis on revenue diversification to reduce dependence on oil-related revenues and stabilize fiscal outcomes.

### Scope and thematic coverage
- Subjects listed: Commodities, Debt sustainability, Expenditure, External debt, National accounts, Oil, Public debt.
- Keywords highlighted: assessment, CR, debt, debt sustainability assessment, debt vulnerability, Global, ISCR, Oil, Petroleum revenue, staff appraisal, Timor-Leste authorities.

*Democratic Republic of Timor-Leste: 2013 Article IV Consultation — IMF Staff Country Report (December 2, 2013).*

---

## Content in this bundle

- **Timor-Leste: 2013 Article IV Consultation; IMF Country Report 13/338; October 7, 2013**
  - [Timor-Leste: 2013 Article IV Consultation; IMF Country Report 13/338; October 7, 2013 (Markdown version)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2013/_cr13338.pdf.md){rel="alternate" type="text/markdown"}
  - [Timor-Leste: 2013 Article IV Consultation; IMF Country Report 13/338; October 7, 2013 (PDF)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2013/_cr13338.pdf){rel="external" type="application/pdf"}

---

_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/democratic-republic-of-timor-leste-2013-article-iv-consultation-41079_