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Timor-Leste has made substantial progress toward restoring stability and rebuilding the country after emerging from a long struggle for independence and internal conflicts between 1999 and 2006. The government has launched its Strategic Development Plan to step up development. A well-managed Petroleum Fund is in place, and new institutions have been established to manage large public investment programs. The authorities need to further strengthen institutional capacities and develop human resources. Developing the financial sector and strengthening the credit culture are crucial for sustained growth in the private sector.

International finance. --- International monetary system --- International money --- Finance --- International economic relations --- Timor-Leste --- Democratic Republic of East Timor --- Democratic Republic of Timor-Leste --- East Timor --- Higashi Timōru --- Itä-Timor --- Östra Timor --- Östtimor --- RDTL --- Repoṕlika Democrátika Timor Lorosa'e --- República Democrática de Timor-Leste --- Repúblika Demokrátika Timor Lorosa'e --- Repúplica Democrática de Timor-Leste --- Timor Lorosa'e --- Timor Wschodni --- Тимор-Лесте --- 東ティモール --- Timor Timur (Indonesia) --- Economic conditions --- Economic policy. --- Constitutional Government of East Timor --- Governo Constitucional de Timor-Leste --- Governu Konstitutionál da Timor-Leste --- Investments: Energy --- Exports and Imports --- Macroeconomics --- Public Finance --- Statistics --- International Lending and Debt Problems --- Energy: General --- National Government Expenditures and Related Policies: General --- Debt --- Debt Management --- Sovereign Debt --- Price Level --- Inflation --- Deflation --- Public finance & taxation --- International economics --- Investment & securities --- Econometrics & economic statistics --- Oil --- Expenditure --- Debt sustainability analysis --- Public debt --- Commodities --- External debt --- Prices --- Debts, External --- Petroleum industry and trade --- Expenditures, Public --- Debts, Public --- Timor

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This paper discusses the Poverty Reduction Strategy Paper—National Development Plan for the Democratic Republic of Timor-Leste. The plan has been a participative process, involving constituents in every sector of the economy to identify the problems they face and to suggest solutions to those problems. East Timor’s Development Strategy as described in this plan is to design programs and pursue initiatives that systematically address its main development goals. The first set of tasks during this early transition stage is to establish government capabilities, enabling legislation and the institutions required to pursue development priorities.

Poverty --- Destitution --- Wealth --- Basic needs --- Begging --- Poor --- Subsistence economy --- Timor-Leste --- Democratic Republic of East Timor --- Democratic Republic of Timor-Leste --- East Timor --- Higashi Timōru --- Itä-Timor --- Östra Timor --- Östtimor --- RDTL --- Repoṕlika Democrátika Timor Lorosa'e --- República Democrática de Timor-Leste --- Repúblika Demokrátika Timor Lorosa'e --- Repúplica Democrática de Timor-Leste --- Timor Lorosa'e --- Timor Wschodni --- Тимор-Лесте --- 東ティモール --- Timor Timur (Indonesia) --- Economic conditions. --- Economic policy. --- Constitutional Government of East Timor --- Governo Constitucional de Timor-Leste --- Governu Konstitutionál da Timor-Leste --- Macroeconomics --- Public Finance --- Environmental Economics --- Agribusiness --- Education: General --- Health: General --- Labor Economics: General --- Investment --- Capital --- Intangible Capital --- Capacity --- Environmental Economics: General --- Agricultural Markets and Marketing --- Cooperatives --- Education --- Labour --- income economics --- Health economics --- Public finance & taxation --- Environmental economics --- Health --- Labor --- Environment --- Infrastructure --- Agroindustries --- Economic sectors --- Labor economics --- Saving and investment --- Environmental sciences --- Agricultural industries --- Timor --- Income economics

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The Timorese economy has improved owing to high oil-financed public spending and a rebound in agriculture, non-oil growth. Despite high bank deposit growth, private sector credit has remained stagnant. The medium-term outlook for growth is positive. Timor-Leste’s key challenge remains to use its petroleum wealth wisely to build a strong non-oil economy and raise living standards. Improvements in financial management and budget execution will be important. Productivity-enhancing structural reforms and efforts to build labor skills would improve competitiveness in non-oil industries and services.

Economic development --- Development, Economic --- Economic growth --- Growth, Economic --- Economic policy --- Economics --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse --- International Monetary Fund --- Internationaal monetair fonds --- International monetary fund --- Timor-Leste --- Democratic Republic of East Timor --- Democratic Republic of Timor-Leste --- East Timor --- Higashi Timōru --- Itä-Timor --- Östra Timor --- Östtimor --- RDTL --- Repoṕlika Democrátika Timor Lorosa'e --- República Democrática de Timor-Leste --- Repúblika Demokrátika Timor Lorosa'e --- Repúplica Democrática de Timor-Leste --- Timor Lorosa'e --- Timor Wschodni --- Тимор-Лесте --- 東ティモール --- Timor Timur (Indonesia) --- Economic conditions. --- Economic policy. --- Constitutional Government of East Timor --- Governo Constitucional de Timor-Leste --- Governu Konstitutionál da Timor-Leste --- Investments: Energy --- Exports and Imports --- Macroeconomics --- Public Finance --- Budgeting --- National Government Expenditures and Related Policies: General --- Energy: General --- National Government Expenditures and Related Policies: Infrastructures --- Other Public Investment and Capital Stock --- International Lending and Debt Problems --- Debt --- Debt Management --- Sovereign Debt --- Public finance & taxation --- Investment & securities --- International economics --- Budgeting & financial management --- Expenditure --- Oil --- Capital spending --- Public debt --- Oil prices --- Commodities --- Prices --- Expenditures, Public --- Petroleum industry and trade --- Capital investments --- Income --- Debts, External --- Debts, Public --- Timor

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This 2013 Article IV Consultation highlights that the non-oil economy of the Democratic Republic of Timor-Leste has grown rapidly in recent years with growth averaging close to 12 percent from 2008 to 2011, allowing the average per capita income to steadily increase. The growth was driven by a rapid increase in government spending, which boosted the public administration and construction sectors. So far, the contributions from agriculture and manufacturing have been modest. Despite falling from the peak of more than 15 percent in 2011, the inflation rate is still in double digits. Executive Directors have welcomed the revised budgetary framework that anticipates a stabilization of government expenditures and revenue diversification.

Economic development --- Development, Economic --- Economic growth --- Growth, Economic --- Economic policy --- Economics --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse --- Timor-Leste --- Democratic Republic of East Timor --- Democratic Republic of Timor-Leste --- East Timor --- Higashi Timōru --- Itä-Timor --- Östra Timor --- Östtimor --- RDTL --- Repoṕlika Democrátika Timor Lorosa'e --- República Democrática de Timor-Leste --- Repúblika Demokrátika Timor Lorosa'e --- Repúplica Democrática de Timor-Leste --- Timor Lorosa'e --- Timor Wschodni --- Тимор-Лесте --- 東ティモール --- Timor Timur (Indonesia) --- Economic conditions. --- Constitutional Government of East Timor --- Governo Constitucional de Timor-Leste --- Governu Konstitutionál da Timor-Leste --- Investments: Energy --- Exports and Imports --- Macroeconomics --- Public Finance --- Social Services and Welfare --- National Government Expenditures and Related Policies: General --- International Lending and Debt Problems --- Energy: General --- Debt --- Debt Management --- Sovereign Debt --- Government Policy --- Provision and Effects of Welfare Program --- General Aggregative Models: General --- Public finance & taxation --- International economics --- Investment & securities --- Social welfare & social services --- Expenditure --- Oil --- Public debt --- External debt --- Debt sustainability --- Commodities --- National accounts --- Expenditures, Public --- Debts, External --- Petroleum industry and trade --- Debts, Public --- Poverty --- National income --- Timor

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This report provides an overview of the economic and institutional developments in East Timor up to September 1999 and the immediate impact of the violent events that followed the August 30, 1999 referendum to decide East Timor's future status. The report presents the key elements of the strategy recommended by IMF staff to the United Nations Transitional Administration in East Timor (UNTAET) to rebuild the institutions needed to support economic activity and public administration, including external financing requirements, technical assistance, and macroeconomic management training needs. Finally, the report assesses implementation of the strategy and discusses the steps that should be taken to ensure that the strategy will help East Timor to prepare to face future challenges.

Referendum --- Macroeconomics --- Référendum --- Macroéconomie --- International Monetary Fund --- World Bank --- Timor-Leste --- Timor oriental --- Economic policy --- Economic conditions --- Politique économique --- Conditions économiques --- 338.22 <594> --- -ID / Indonesia - Indonesie --- 331.31 --- Ballot initiatives --- Ballot measures --- Initiative and referendum --- Initiatives, Ballot --- Propositions (Referendum) --- Referenda --- Referendums --- Democracy --- Elections --- Representative government and representation --- Direct democracy --- Plebiscite --- Economische organisatieleer. Economisch beleid. Economische politiek--Indonesië --- Economisch beleid. --- Timor Timur (Indonesia) --- -Timor Timur (Indonesia) --- -Economic conditions --- Referendum -- Timor-Leste. --- Timor-Leste -- Economic conditions. --- Timor-Leste -- Economic policy. --- Economic History --- Business & Economics --- 338.22 <594> Economische organisatieleer. Economisch beleid. Economische politiek--Indonesië --- Economic policy. --- Economic conditions. --- Référendum --- Macroéconomie --- Politique économique --- Conditions économiques --- East Timor --- Democratic Republic of East Timor --- Timor Lorosa'e --- Repoṕlika Democrátika Timor Lorosa'e --- Repúplica Democrática de Timor-Leste --- Democratic Republic of Timor-Leste --- República Democrática de Timor-Leste --- Repúblika Demokrátika Timor Lorosa'e --- Timor Wschodni --- RDTL --- 東ティモール --- Higashi Timōru --- Itä-Timor --- Östtimor --- Östra Timor --- Тимор-Лесте --- ID / Indonesia - Indonesie --- Economisch beleid --- E-books --- Constitutional Government of East Timor --- Governo Constitucional de Timor-Leste --- Governu Konstitutionál da Timor-Leste --- Timor --- Banks and Banking --- Budgeting --- Exports and Imports --- Money and Monetary Policy --- Public Finance --- Labor --- National Budget --- Budget Systems --- Taxation, Subsidies, and Revenue: General --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- National Government Expenditures and Related Policies: General --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Budgeting & financial management --- Public finance & taxation --- Monetary economics --- Banking --- International economics --- Labour --- income economics --- Budget planning and preparation --- Currencies --- Extra-budgetary funds --- Revenue administration --- Expenditure --- Public financial management (PFM) --- Money --- Commercial banks --- Financial institutions --- Budget --- Revenue --- Banks and banking --- Expenditures, Public --- Finance, Public --- Income economics