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POLITICS, CAPITAL

Rectification Budget approved in generality

Rectification Budget approved in generality

Parliament approves Ratification budget (Photo Tatoli)

DILI, 23 august 2023 (TATOLI) – The 2023 State Budget Rectification proposal was overall approved by the National Parliament in generality, on august 22, with 41 votes in favor, 23 abstentions, and no votes against.

Parliament will now consider the budget in the specialty and will discuss and vote on each article of the bill before the final global vote, due to take place on august 24, 2023.

“The proposal for the Rectification Budget for 2023 is approved by the National Parliament in generality,” the Acting President of the National Parliament, Maria Terezinha Viegas announced the voting result, on tuesday.

Of the Rectification Budget totaling US$1,771,867,112, the government allocated US$433,004,989 to Salaries and Wages, US$349,366,622 to Goods and Services, US$568,537,785 to Public Transfers, US$49,568,488 to Minor Capital and US$231,522,116 to Capital Development.

In his statement at the presentation of the Budget at the National Parliament, Prime Minister Kay Rala Xanana Gusmão highlighted the focus of the budget on five important aspects – Revitalization of the IX Government Structure, Reduction of Expenditure in State Budge, Inflation Reduction, Amendment of General State Budget Framework and the Alteration of the Tax Law.

Gusmão also stressed the importance of the intention to amend Law 2/2022 on the Framework of the State Budget, focusing the allocation of the budget on five important categories – Wages and Salaries, Goods and Services, Public Transfers, Minor Capital and Development Capital.

“Therefore, in order to guarantee the stability of the General State Budget, we are going to eliminate the Law of Grand Options Plan and create an Annual Strategic Investment Plan with a multi-annual vision of the Budget that is in line with the best international practices,” said Gusmão.

 

Journalist: Filomeno Martins 

Editor: Nelia Borges

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