Publication:
Timor-Leste Economic Report, July 2023: Ways to Harvest Prosperity

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dc.contributor.authorWorld Bank
dc.date.accessioned2023-08-25T15:48:44Z
dc.date.available2023-08-25T15:48:44Z
dc.date.issued2023-08-25
dc.description.abstractTimor-Leste’s economy continued its recovery in 2022, expanding by 3.9 percent, fueled by public consumption and investment. Private investment rose from an exceptionally low level while net exports continued to be a drag on growth. Headline inflation soared in March 2023 at 9.6 percent, spurred by significant increases in food and non-food prices. High inflation is part of a global trend driven by prices of tradable goods. Within Timor-Leste, the government’s policy of enforcing higher excise taxes on tobacco products, implementing import taxes, and applying excises to sugar and sugary beverages, partially drove the inflationary trend. To advance a reform agenda, the new government may want to consider institutionalizing fiscal consolidation through robust fiscal rules. Both revenue mobilization and expenditure rationalization efforts should not only be maintained but also enhanced. Given that significant increases in public spending have had a limited impact on Timor-Leste’s medium-term economic growth, it is possible to sustain growth levels with a reduced budget.en
dc.identifierhttp://documents.worldbank.org/curated/en/099082423184080415/P17968900c0be2080af39081ae63bb6cf9
dc.identifier.doi10.1596/40269
dc.identifier.urihttps://openknowledge.worldbank.org/handle/10986/40269
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.rightsCC BY-NC 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttps://creativecommons.org/licenses/by-nc/3.0/igo
dc.subjectINFLATION
dc.subjectGOVERNMENT SPENDING
dc.subjectOIL PRODUCTION
dc.subjectAGRICULTURAL DEVELOPMENT
dc.titleTimor-Leste Economic Report, July 2023en
dc.title.subtitleWays to Harvest Prosperityen
dc.typeReport
dspace.entity.typePublication
okr.crossref.titleTimor-Leste Economic Report, July 2023: Ways to Harvest Prosperity
okr.date.disclosure2023-08-25
okr.date.lastmodified2023-08-25T00:00:00Zen
okr.doctypeEconomic & Sector Work
okr.doctypeEconomic & Sector Work::Economic Updates and Modeling
okr.docurlhttp://documents.worldbank.org/curated/en/099082423184080415/P17968900c0be2080af39081ae63bb6cf9
okr.guid099082423184080415
okr.identifier.docmidP179689-0c0be2d9-160e-4228-af39-81ae63bb6cf9
okr.identifier.doihttp://dx.doi.org/10.1596/40269
okr.identifier.externaldocumentum34150354
okr.identifier.internaldocumentum34150354
okr.identifier.report184616
okr.import.id1609
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099082423184080415/pdf/P17968900c0be2080af39081ae63bb6cf9.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.countryTimor-Leste
okr.sectorCentral Government (Central Agencies)
okr.themeInclusive Growth,Economic Policy,Public Finance Management,Economic Growth and Planning,Public Sector Management,Public Expenditure Management,Structural Transformation and Economic Diversification
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicMacroeconomics and Economic Growth::Economic Forecasting
okr.unitEFI-EAP-MTI-MacroFiscal-2 (EEAM2)
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