Parliament approves the State Budget for 2021

Parliament approves the State Budget for 2021

DILI, december 12, 2020 (TATOLI) – Parliament has approved the General State Budget (OGE) for 2021 with the amount of US $ 1,895 million.

The 2020 General State Budget Law Proposal draft, presented by the Government, had already been considered and approved without votes against in the overall vote.

Before the final global vote, the budget was analysed, debated and voted in detail, at the National parliament Plenary, with the analysis and vote of each article of Law draft and of the 51 amendment proposals, suggested by the National Parliament members. The proposed 2021 budget is $1,895 billion.

“The 2021 State Budget Proposal was approved by the National Parliament,” The President of Parliament, Francisco Guterres Lú Olo said at the Plenary session.

The 2020 General State Budget, will now be sent to the President of Republic, Francisco Guterres Lú Olo, for promulgation.

The amount of $1,895 billion will be splitting into four categories with 239,26 million dollars will allocate to wages and salaries, 421,49 million dollars will be spending for goods and services, 669,91 million dollars to public transfers, $ 61.14 million for smaller capital and $ 503.20 million for development capital.

Prime-Minister, addressed the General Budget, with beliefs that Resistance and Resilience of the budget, and the programs will actively be contributed to reducing the negative impacts caused by the political deadlock, natural disasters and COVID-19 crisis

“This is to responds to the most urgent needs and to stabilize our society and economy, in a time of general economic recession and contraction of worldwide”, Prime Minister, Taur Matan Ruak said.

He also added that this is a “Budget of Hope for Economic Upturn and Recovery” and is “a real opportunity not to return to the pre-crisis position, but to transform Timor-Leste into a more solid and inclusive country, in accordance with the National Strategic Plan and the Roadmap for implementing the Sustainable Development Goals”.

Thus, the budget for 2021 will give priority to the development of social capital, economic development, in line with the measures included in the Economic Recovery Plan, the development of basic fundamental infrastructures, environmental development and institutional development as well as the processes of institutional reforms in course.




Leave a Reply

error: Content is protected !!