PRESIDENT OF THE REPUBLIC PROMULGATES 2020 BUDGET

by Mídia PR Posted on

Nicolau Lobato Presidential Palace, Dili, 19 October 2020

Today, President Francisco Guterres Lú Olo, in the exercise of the powers vested in him by the Constitution, promulgated National Parliament Decree no. 23/V – the 2020 General State Budget Act.

The decree was promulgated after the President of the Republic concluded that the National Parliament’s decree fulfils the assumptions and prerequisites of the applicable provisions of the Constitution of the Republic and the law, as well as the political conditions of necessity, convenience, and urgency.

The budget approved by the National Parliament has an overall expenditures amount of $1.497 billion. Of this amount, $207.3 million refer to wages and salaries; $563 million to goods and services; $504.3 million to public transfers; $9.2 million to minor capital; and $213.4 million to development capital.

This budget includes the expenditures incurred under the provisional twelfths system in force since January, as well as expenditures planned for the last quarter of the year. The amount approved intends to provide economic stabilization to address the impact of COVID-19 and the heavy rain and floods that occurred early this year in Dili, and covers the economic recovery measures defined under the Economic Recovery Plan approved by the Eighth Constitutional Government in August 2020.

National Parliament Decree no. 23/V was approved on 8 October and submitted to the President of the Republic for promulgation on 9 October.

PR MEDIA.