Parliament Approves 2024 Budget
On December 13, 2023, the Timorese Parliament passed the General State Budget (OGE) for 2024, focusing on economic development and social protection. The budget, totaling 1.78 billion euros, received majority approval with 43 votes in favor.
During the session, presided over by Fernanda Lay, the Parliament’s speaker, 52 out of 65 members participated in the voting. The results were 43 votes for, 8 against, and 1 abstention. The detailed discussion and final global vote on the OGE took place between that Thursday and December 20th.
Prime Minister Xanana Gusmão expressed his gratitude for the approval, emphasizing the OGE’s role in poverty reduction and economic growth. To address the budget deficit, the Parliament also approved a transfer of 1.28 billion euros from the Petroleum Fund.
Budget Allocation by Sector
The OGE allocates significant funds to various sectors:
- Economic affairs: 788.2 million dollars (732 million euros)
- Environmental protection: 389.6 million dollars (361.8 million euros)
- Social protection: 467.1 million dollars (433.8 million euros)
- Education: 140.9 million dollars (130.8 million euros)
- Health: 66.2 million dollars (61.4 million euros)
- Housing and community infrastructures: 45.2 million dollars (41.9 million euros)
- Security: 55.3 million dollars (51.3 million euros)
- Defense: 34.9 million dollars (32.4 million euros)
This budget reflects the government’s commitment to addressing key areas for the nation’s development and well-being.