DILI (TOP) – A trimestral report from Banco Central Timor-Leste (BCTL) recently announced that the current petroleum fund (Fundu Petróleu) has reached $ 18.4 billion deposited in New York, United States.
Regarding to this matter, many people are starting to think and be concerned about the financial sustainability of the actual government, especially the government's plan which has budgeted funds worth $ 1.4 billion for the year 2021.
The government, in particular the ministry of finance, organized on 4 August 2020 on the state budget, a seminar marking the beginning of the 2021 state budget preparation (OJE) at the Xanana Gusmão Auditorium, in Dili.
The seminar, with the theme “budget for recovery and strengthening development” with the main objective of discussing all national priorities based on government programs, national development strategic plans, all objectives of sustainable development, political and financial achievements, the impact of Covid-19 and economic recovery plans determine the fiscal package for 2021 that is integrated for the real needs of the country.
Minister of Finance Fernando Hanjam, in his intervention said, the seminar was to reflect on the government's commitment to the preparation of the 2021 state budget in order to respond to the impact of the Covid-19 epidemic, especially economic recovery or reconstruction and also to ensure the sustainability of development and quality public work achievements for people.
The Prime Minister, Taur Matan Ruak, through his remarks at the opening ceremony of the seminar reminded that "2020 is a year full of challenges", because first the state budget did not pass in the National Parliament ", which forced the state to only use two-decimal funds with the new political situation in parliament to support the government, without an early election ", after that there was another natural disaster on March 13 and May 22 which damaged people's homes and public facilities with a loss of up to $ 50 million and finally Covid-19 emerged which not only had an effect against sanitation no health hazard, but triggers economic and social impacts ".
Responding to all these challenges, the head of government mentioned "the maturity of the ranks of government and citizens which has increased significantly", because "it is not only facing various problems, but also seeking solutions". Specifically for efforts to prevent the Covid-19 pandemic, the head of government explained that, until now, trying to balance the situation with answers to health aspects and socio-economic impacts ", on the other hand, by implementing efforts to prevent and eradicate Covid-19", by implementing packages economic recovery and the creation of a commission to handle the economic reconstruction plan ".
The Prime Minister hopes that "the presentation made in the seminar will later contribute to the idea of setting priorities for the 2021 state budget".
During the seminar, participants witnessed presentations on programs, priority metas, regarding socio-economic achievements and the impact of covid-19, political financial achievements and proposals on the draft 2021 state budget.
The seminar concluded with a debate on all national priorities and the maximum limits of the 2021 state budget proposal.
Meanwhile, the charismatic leader Kay Rala Xanana Gusmão believes that Timor-Leste has money in the bank of New York, the United States and Xanana strongly believes that the Draft State Budget will pass by a majority vote in the National Parliament.
"The budget could have passed, but the procedures were problematic, thus Angela Freitas was asked not to lower People Power to depose the President of the Republic, just let him step down", Xanana declared the issue in Dili last weekend.
Xanana added that the oil fund is still there, but he thinks that, if this government leads another 10 years, everyone will die.
"Just to pay for hotels that are used for quarantine, pay for catering also do not know how money is going, but close their eyes to emergency projects. This means that for 10 years they continue to lead, we better run away somewhere, if they lead for 10 years more, don't mention the municipality ", he said.
It has been almost two years that the current government led by Prime Minister Taur Matan Ruak has no state budget to date.
