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NATIONAL, CAPITAL, DILI

Timor-Leste starts to implement the 2021 state budget

Timor-Leste starts to implement the 2021 state budget

DÍLI, January 12, 2021 (TATOLI) – Timor-Leste has started to implement the state budget after the Government approved the rules for the execution of the General State Budget (OGE) for 2021.

According to the statement from the government site, The Government Decree 1/2021, of January 8th, which establishes the rules for the execution of the 2021 General State Budget (GSB), approved by Law 14/2020, of December 29th,  was published last Friday, allowing the execution to begin today, January 11th, 2021.

This Government Decree applies to the Central Administration bodies and service’s budget, to the Special Administrative Region of Oekuse Ambeno (RAEOA)’s budget and to the Social Security’s budget, and aims to ensure an effective and rigorous budgetary control.

it is also aims at simplify the procedures for budget execution, continuing the changes initiated in 2020, with the objective of facilitate  the 2021 General State Budget’s execution by the bodies and services of the Public Administrative sector.

The same document makes reference to the main changes regarding the decree that defines the rules of execution of the OGE 2020. Noteworthy are, among others, the existence of only two financial regimes – Services Without Financial Autonomy (SSAF) and Autonomous Organs, Services and Funds (OSFA) and the fact that the RAEOA and Social Security have their own financial systems.

It is also points out as other changes the fact that the budgetary execution will now include the implementation of program budgeting and the commitments can be registered in the Financial Management Information System (FMIS) until December 17, 2021.

The increase in the flexibility of budget execution, the elimination of certain quantitative limits, such as direct adjustment, the drawing up of a list of bodies and services in default by the Ministry of Finance are other changes present in the decree concerned.

TATOLI

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