Parliament passes $1.7 billion 2012 State Budget

In the dark hours of Friday, 25 November, Timor-Leste's National Parliament approved a $1.674 billion budget for 2012, including $1.495 billion from the Petroleum Fund. Although the MPs had eliminated $200 million the Government had proposed to kickoff the Timor-Leste Investment Company, they added $111 million in other expenditures, so the total enacted budget is $89 million less than the Government's proposal. Despite the cuts, this represents a 381% increase in the state budget during the last four years, a higher rate of growth than every country in the world except Zimbabwe. See La'o Hamutuk's website for more information on the State Budget, including documents.

	Salaries	Goods & Services	Transfers	Minor Capital	Develop. Capital	Total expenditure	Parliament changes
Consolidated fund (all gov't) excluding autonomous agencies, TL Investment Company, Special Funds and Borrowing	137,401	232,484	199,579	38,917	111,192	719,573	61,481
Autonomous agencies	2,670	113,784	-	4,000	-	120,454	24,472 [fuel for EDTL]
TL Investment Company					-	-	(200,000) [CITL]
Special Funds
* Infrastructure Fund					761,003	761,003	14,803
* Human Capital Development Fund		30,000				30,000	0
Borrowing					43,100	43,100	10,000 [Maubisse-Ainaro road]
Total including Autonomous agencies, Special Funds and Borrowing	140,071	376,268	199,579	42,917	915,295	1,674,130	(89,244)
Withdrawal from the Petroleum Fund						1,494,956	(99,244)
Parliament's changes (including all.)	0	31,568	5,350	12,966	(139,128)	(89,244)