DILI, 01 december 2022 (TATOLI)—The World Bank launched an economic report in Timor Leste to strengthen the social protection system, especially for the poor.
Country Representative, World Bank Bernard Harborne, said that the launch was held twice a year and released every six months.
“The report is aimed at updating economic progress in the country. Mainly the economy in Timor Leste (TL) remains safe,” said World Bank Representative Bernard Harborne to reporters at AMRT Lecidere Dili, thursday.
According to Harborn, it requires improving the social protection system to ensure education stability and poverty in Timor-Leste.
It was explained that in 2021, the economic recovery will increase to 2.9%, so the World Bank targets that in 2022 and 2023 the economic recovery will increase to 3.0%.
“We must use the budget properly, especially social protection funds such as funds for veterans with a large budget allocation. Thus, these funds must be used properly, for example investing in the poor and sustainable malnutrition” explained Bernard.
The Minister of Finance, Rui Agusto Gomes revealed the same issue, that the launch of the report was to strengthen the economic system which is focused on social protection.
“If we don’t provide social protection then poverty will increase, if this happens it will add costs to the state because poverty can hinder economic recovery,” She said.
The Minister added that from the 2014 data report, poverty in Timor Leste is around 42% of the 1.2 million population, while the recent data was set to be announced next year.
“To reduce poverty, the Government implements social programs such as Public transference, House for the poverty(Uma Kbiit Laek), a food basket(Sesta Bazika), subsidies for the senior citizens, and others, this is social politics, has been implemented by the Government for several years, that will have a positive impact on reducing poverty.
The poverty rate in the country Continuing over the past decade, Timor-Leste’s social protection spending has increased in nominal terms, from $129 million in 2009 to $148 million in 2019.
Journalist: Mirandolina Barros Soares
Editor: Armandina Moniz
Translation: José Belarmino De Sá
