28 November 2011

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)

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