Publication:
Timor-Leste Economic Report, January 2024 - Fit for Purpose: Crafting a Stable, Inclusive, and Resilient Financial Sector

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dc.contributor.authorRezza, A.A.
dc.contributor.authorPakpahan, Y.M.
dc.contributor.authorAlibhai, S.
dc.date.accessioned2024-02-26T16:48:34Z
dc.date.available2024-02-26T16:48:34Z
dc.date.issued2024-02-26
dc.description.abstractThe final national accounts for 2022 have slightly raised the non-oil growth rate, with consumption driving economic activities. The IX Constitutional Government has an ambitious target of creating some 50 000 jobs over the next five years, but the lack of economic dynamism hinders job creation for rapidly expanding workforce. In response to severe slow budget execution, the new government revised the 2023 budget, decreasing planned expenditure by 12 percent, aligning closely to the actual spending in 2022. For the first nine months of 2023, consumer price inflation remained high at 8.3 percent year-on-year, driven by a notable rise in both food and non-food prices. The growth in money supply has paralleled fiscal expansion, leading to substantial liquidity in the banking sector which remains largely unutilized by the real sector. There have been consistent trade deficits since Q4 2022, reaching 17.1 percent of gross domestic product (GDP) by September 2023.en
dc.identifierhttp://documents.worldbank.org/curated/en/099022224203533573/P500776116deb704f18e3215df68ee950f8
dc.identifier.doi10.1596/41107
dc.identifier.urihttps://hdl.handle.net/10986/41107
dc.languageEnglish
dc.language.isoen_US
dc.subjectTLER
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL STABILITY
dc.subjectFINANCIAL INCLUSION
dc.subjectFINANCIAL RESILIENCE
dc.subjectPOLICY INTERVENTIONS
dc.titleTimor-Leste Economic Report, January 2024 - Fit for Purposeen
dc.title.subtitleCrafting a Stable, Inclusive, and Resilient Financial Sectoren
dc.typeReport
dspace.entity.typePublication
okr.crossref.titleTimor-Leste Economic Report, January 2024 - Fit for Purpose: Crafting a Stable, Inclusive, and Resilient Financial Sector
okr.date.disclosure2024-02-26
okr.date.lastmodified2024-02-23T00:00:00Zen
okr.doctypeEconomic & Sector Work
okr.doctypeEconomic & Sector Work::Economic Updates and Modeling
okr.docurlhttp://documents.worldbank.org/curated/en/099022224203533573/P500776116deb704f18e3215df68ee950f8
okr.guid099022224203533573
okr.identifier.docmidP500776-16deb756-1642-424f-8e32-5df68ee950f8
okr.identifier.doihttps://doi.org/10.1596/41107
okr.identifier.externaldocumentum34264872
okr.identifier.internaldocumentum34264872
okr.identifier.report187894
okr.import.id3248
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099022224203533573/pdf/P500776116deb704f18e3215df68ee950f8.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.countryTimor-Leste
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicFinance and Financial Sector Development::Financial Sector and Social Assistance
okr.unitEFI-EAP-MTI-MacroFiscal-2 (EEAM2)
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