Dili, 05 april 2023 (TATOLI) – The Government of Timor-Leste, through the Council of Ministers, has today approved the Law of the Grand Options Plan for 2024, presented by the Minister of Finance, Rui Gomes.
“The Law of Grand Options Plan for 2024 is composed of multiannual and annual measures that aim to identify the budgetary strategy and the main options in terms of planning with impact on the General State Budget for the following budgetary year and for the four subsequent years. The law of the Grand Options Plan allows a direct link between the planning process and the budget process, enabling the full realization of program budgeting,” said the Minister of the Presidency of the Council of Ministers, Fidélis Magalhães, in a press conference, at the Government Palace, in Díli.
According to Minister Magalhães, this law allows a direct link between the planning process and the budget process, allowing for the full implementation of the budget by programs.
Fidélis Magalhães pointed out that it was necessary to present the draft Law of the Grand Options Plan because of parliamentary elections, which will take place on the 21st of May 2023.
“However, the approval of the Grand Options Law does not prevent the new Government from presenting, together with the draft State Budget Law, its own draft law of Grand Options Plan under the terms of paragraph 7 of article 47 of Law no. 2/2022 of 10 February of the Budgetary Framework Law,” he said.
Magalhaes said that the value of the overall expenditure of the Public Administrative Sector in the General State Budget for 2024 is set at US$1.7 billion: “Expenditure for the Oe-Cusse Ambeno Special Administrative Region is US$81.1 million and Social Security is US$291.9 million, making a total consolidated overall expenditure of US$2.07 billion.”
Journalist: Filomeno Martins
Editor: Nelia Borges
