Dili, Oct. 4, 2024 (Lusa) - Timor-Leste's budget for 2025 prioritises the construction of infrastructure, the strengthening of the various sectors of the economy and the development of human capital for greater economic growth and improved public services.
On Tuesday, the Timorese government approved a proposed General State Budget for 2025 of $2.6 billion (€2.3 billion), which represents an increase of $650 million (around €581 million) compared to what was proposed in 2024.
In the State Budget report, released today by the Ministry of Finance, three main areas of action are defined, namely strategic infrastructure, strengthening various sectors of the economy and improving the well-being of citizens in order to say inclusive growth.
With regard to strategic infrastructure, the government intends to allocate a total of $227.3 million (around €206 million) to the Infrastructure Fund to finance the construction, rehabilitation and expansion of the road network throughout the country.
The fund will also receive $29.6 million (around €26.8 million) for the modernisation of Dili's international airport, through the extension of the runway, lighting and the construction of a new control tower and a new terminal.
In the telecommunications infrastructure, the government plans to invest $2.5 million (around €2.2 million) to install the fibre optic cable and $2.35 million (around €2 million) to route it throughout the country.
In the energy sector, the State Budget provides for a subsidy of $166.5 million (around €150.9 million) to support the operations of the Timor-Leste Electricity Company and an investment of $12.2 million (around €11 million) to expand the network.
To strengthen various economic sectors, the Timorese government will invest in oil, agriculture, trade and industry, employment, tourism, and human capital development.
These sectors include investments of $40.5 million (€36.7 million) in the Petroleum and Natural Resources Management programme, $40.8 million (€36.9 million) to boost the agricultural, fishing, livestock, and forestry sectors, and $23.3 million (€21.1 million) in the economic diversification programme, which aims to create jobs through entrepreneurship.
In the third area of action, improving the population's living conditions, the 2025 State Budget reserves $406 million (around €368 million) to support health, education, civil society and social services.
The education and training sector will receive $145.8 million (around €132.1 million), the health sector will have a budget of $99.2 million (around €89.9 million), and an allocation of $26 million (around €23.5 million) is also earmarked for the development and maintenance of water and sanitation infrastructure.
The State Budget for 2025, submitted to parliament this week, will be discussed by the end of the year.
MSE/ADB // ADB.
Lusa
