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Nov 17, 2016

Timor-Leste’s economic outlook positive as reforms begin to show results


Minister of State and of the Presidency of the Council of Ministers and
Official Spokesperson for the Government of Timor-Leste

 Dili, November 17th, 2016

Timor-Leste’s economic outlook positive as reforms begin to show results
Recent reports by the World Bank and the International Monetary Fund, along with analysis contained within the Draft 2017 State Budget Overview, have identified positive trends in Timor-Leste’s short-term economic outlook. Low inflation, the positive impact of infrastructure development and benefits beginning to flow from the Government’s reform efforts are cited as contributing factors.

The World Bank’s East Asia and Pacific Economic Update published on the 4th of October 2016 observes “Timor-Leste is facing an outlook starkly different to its recent past. Previously one of the most oil-dependent countries in the world, it could become a post-oil country in as little as five years’ time”. While emphasizing the importance of developing the domestic economy and supporting economic diversification, the report notes that the Government’s “reform efforts are beginning to show results, with a pipeline of Foreign Direct Investment emerging” and says “In 2016 and 2017, domestic growth is expected to continue in a similar range as the last two years, with growth forecast at 5.0 and 5.5 percent, respectively.”

The International Monetary Fund’s Press Release IMF Concludes Staff Visit to Timor-Leste of the 7th of November 2016 said that “Economic “activity in Timor-Leste is expanding at a satisfactory pace, and is likely to maintain the momentum into next year” and goes on to say that “the near-term outlook remains generally favorable with a continuing non-oil growth recovery accompanied by low inflation.” The team lead by the IMF’s Ms. Yu Ching Wong also said that financial soundness indicators had improved within the banking system and welcomed “the steady progress in implementing the Financial Sector Master Plan aimed at raising financial inclusion and safeguarding financial stability.”

The Government’s Program recognizes that “it is urgent we diversify our economy” which is why it focuses on “expanding and modernizing the agriculture sector, building a thriving tourism sector, encouraging much higher levels of private sector activity and activating industries, including the growth and expansion of small and micro businesses.” It is also why the Government is working to improve economic infrastructure and to address industry, financing and trade constraints.

The draft 2017 State Budget Overview analyses Timor-Leste’s economic performance over recent years and quotes final figures from 2014 which show that the non-petroleum sector accounted for 39% of Timor-Leste’s real Gross Domestic Product [GDP] and that real non-oil GDP grew by 5.9%. It says there was an increase in household consumption of 9.8% and private sector investment growth of 17.3%. The Overview also highlights the improvement of domestic revenue receipts from tax revenues, fees and charges, interest and revenues from autonomous agencies. Domestic revenues are forecast to increase by 4.3% in 2017 due to improvements in Government Services and collection.

Government Spokesperson, Minister of State Agio Pereira noted that “the Government welcomes the report of the World Bank and the Press Release of the IMF team which present a favorable short-term economic outlook for Timor-Leste and recognize the positive results of Government policy. It continues to be a top priority of Government to do all it can to encourage conditions for private sector growth and economic diversification through the provision of basic economic infrastructure, the removal of constraints and the implementation of reforms that are supporting enhanced economic activity.”ENDS

Nov 9, 2016

Timor-Leste Welcomes WTO Accession Delegation Visit

"Timor-Leste Welcomes WTO Accession Delegation Visit"

8 Nov, Dili— The Government of Timor-Leste has concluded the first day of a two-day visit between the Government and delegates from the World Trade Organisation Accession team. 

The WTO delegation has come to Timor-Leste to discuss Timor-Leste’s application to be member of WTO. 

According to the Minister of Planning and Strategic Investment, Kay Rala Xanana Gusmão, “Accession to WTO is in line with the Government’s plans to strengthen and grow the economy through strategic investments in potential sectors. WTO membership is also another important step to cementing our sovereignty.”  

The Minister of State, Coordinating Minister of Economic Affairs, and Minister of Agriculture and Fisheries, Eng. Estanislau da Silva, said “Joining the WTO is critical to ensuring that Timor-Leste can diversify its economy in commerce, industry and agriculture for exports and access to markets. This is important to create jobs and improve the well being of the population. We need investments to increase exports in all sectors and WTO membership will greatly facilitate export of Timorese goods and services as well as trade with other countries.”

The Minister of Commerce, Industry and Environment, Constâncio da Conceição Pinto, said “I am happy to receive the mission and concretely work towards the accession process.”

For further information, please contact Mr. Oscar Salsinha on 77273161.

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"Timor-Leste Hato Benvindu ba Visita Delegasaun Adesaun OMC"

8  Novembru, Díli – Guvernu Timor-Leste ramata ona atividade loron primeiru relasiona ho visita delegasaun Organizasaun Mundial Komersiu (OMC) mai Timor-Leste duranti loron rua nia laran. 

Delegasaun ne’e mai Timor-Leste atu koalia konaba pedidu Timor-Leste sai membru OMC. 

Tuir Ministru Planeamentu no Investimentu Estratéjiku, Kay Rala Xanana Gusmão katak “Adesaun ba OMC alinha ho Guvernu nia planu atu haforsa no haburas ekonomia liu hosi investimentu estratéjiku iha setor potensial sira. Nudar membru OMC mos hanesan hakat importante ida atu haforsa ita nia soberania”.

Ministru Estadu, Koordenador ba Asuntu Ekonomiku, no Ministru Agrikultura no Peska, Eng. Estanislau da Silva hateten mos katak: “Sai nudar membru OMC importante tebes atu fo serteza katak Timor-Leste bele mos diversifika nia ekonomia iha komersiu, industria no agrikultura ba exportasaun no asesu ba merkadu. Ne’e importante atu kria empregu no hadi’a ema nia moris. Ita persiza investimentu atu aumenta esportasaun iha setor hotu-hotu no nudar membru OMC sei fasilita tebtebes esportasaun produtu no serbisu Timor nian inklui mos komersiu ho nasaun seluk”.

Ministru Komersiu, Industria no Meiu Ambienti, Constâncio da Conceição Pinto, hateten: “Hau kontenti simu delegasaun ida ne’e no sei esforsa atu suporta prosesu adesaun”.

Karik persiza informasaun klaru liutan, favour kontaktu Sr. Oscar Salsinha, 77273161.

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"Timor-Leste acolhe a delegação técnica de Adesão à OMC"

8 de Novembro, Díli – O Governo de Timor-Leste concluiu o primeiro dia de uma visita de dois dias entre o Governo e os delegados da Equipa Técnica de Adesão da Organização Mundial do Comércio.

A delegação da OMC chegou a Timor-Leste para discutir a candidatura de Timor-Leste à OMC.

De acordo com o Ministro do Planeamento e Investimentos Estratégico, Kay Rala Xanana Gusmão, "a adesão à OMC está em linha com os planos do governo de fortalecer e crescer a economia através de investimentos estratégicos em setores potenciais. A adesão à OMC é também outro passo importante para consolidar nossa soberania ".

O Ministro de Estado, Coordenador dos Assuntos Económicos e Ministro da Agricultura e Pescas, Eng. Estanislau da Silva, disse: "A adesão à OMC é fundamental para assegurar que Timor-Leste possa diversificar a sua economia no comércio, na indústria e na agricultura para as exportações e acesso aos mercados. Isso é importante para criar empregos e melhorar o bem-estar da população. Precisamos de investimentos para aumentar as exportações em todos os setores e a adesão à OMC facilitará muito a exportação de bens e serviços timorenses, bem como o comércio com outros países ".

O ministro do Comércio, Indústria e Ambiente, Dr. Constâncio da Conceição Pinto, disse: "Expresso a minha satisfação em receber a missão e trabalhar concretamente no processo de adesão".

Para mais informações, queira p.f. entrar em contato com o Sr. Oscar Salsinha, pelo Telemóvel 77.273.161.



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