Timor-Leste begins preparations for OGE 2025, focusing on strategic infrastructure investments, strengthening the economy and improving citizens’ well-being « Government of Tim-Leste

The Government of Timor-Leste, through the Ministry of Finance, organized a workshop today (5 July 2024), Budget Day, marking the start of the process of preparing the State General Budget (OGE) 2025. At the Kay Rala Xanana Gusmão Auditorium of the Ministry of Finance, members of the Government, representatives of the National Assembly, municipalities and autonomous institutions gathered.

This year’s Budget Day, themed “Investing in strategic infrastructure, strengthening the economy, and improving the well-being of citizens,” kicked off with speeches by Prime Minister Kay Rala Xanana Gusmao and Finance Undersecretary Felicia Claudinanda Cruz Carvalho.

In his speech, the Prime Minister stressed the importance of the meeting, marking the first anniversary of the Ninth Constitutional Government. He reiterated that “money belongs to the people and must be managed well”, stressing that correcting irregularities in the financial system was one of the government’s main concerns last year. He also stressed the need to strengthen state institutions and improve public services, stressing that the only goal of holding public office is to improve the country.

“Our theme this year is ‘Investing in strategic infrastructure, strengthening the economy and improving the well-being of citizens’ – a focus that underscores our ongoing commitment to economic progress and prosperity for Timor-Leste”, said Felícia Claudinanda Cruz Carvalho, Deputy Minister of Finance. The Governor also stressed that the 2025 Budget represents a “roadmap for the future” with a vision to “lay the foundations for a diversified and resilient economy in Timor-Leste by 2028”.

The Deputy Minister stated that “our strategic investment in infrastructure is focused on more than just the construction of buildings or roads. It is about laying the foundation for economic growth, improving the daily lives of our citizens, and creating a platform for prosperous lives for future generations.” He also believed that “our heavy reliance on the Oil Fund for budget financing is a matter of concern” and that “urgent measures are needed to diversify our revenue sources and reduce our reliance on a single sector”.

“To address this, we need to improve and expand vocational training programs, improve access to quality education, and create an environment that supports entrepreneurship. By investing in young people, we can realize their potential and achieve long-term economic growth,” concluded the Deputy Finance Minister.

At the end of her speech, Deputy Minister of Finance Felicia Claudinanda Cruz Carvalho called on all participants to “come to this seminar with an open mind” with a view to “exchanging innovative ideas and working together on the future of our country.” “Together, we have developed a budget that will not only strengthen our economy, but also improve the well-being of every Timorese citizen.”

During the various sessions of the event, macroeconomic issues, budget strategies and the performance of the financial sector were discussed. Proposals were made on priorities, mandatory spending and scenarios for the fiscal ceiling for 2025, which will be submitted to the Council of Ministers for approval.