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Lusa - Business News - East Timor: Govt. plans to meet to aprove measures to boost state coffers

Dili, July 10 (Lusa) - The East Timorese government will meet on Wednesday to approve measures to boost the state's coffers, which are down to their last US$20 million, in the months of July and August, the Timorese Prime Minister said on Tuesday.
Taur Matan Ruak was speaking to journalists at the Presidential Palace following a meeting convened by President Francisco Guterres to address the budget for East Timor, which has been operating on a monthly budget since 1 January.
"The 8th Government is concerned about salaries, wages and debts to be paid. I assured the President that we will discuss having money to support the state's oeprations in July and August," Matan Ruak said.
The tissues "will be addressed tomorrow [Wednesday] in the Council of Ministers," said Taur Matan Ruak, adding that the aim is to ensure that there is money for normal operation during the months of July and August.
The country's Oil Fund law, the main source of revenue for the state coffers, states that any transfer requires the Government to submit reports on the estimates for sustainable income in the fiscal year to Parliament, as well as the certification of that amount by an independent auditor.
Matan Ruak gave assurances that the government would meet the 30-day deadline to present the Government's programme to Parliament, which ends on 22 July, and will then approve the accounts for the remainder of this year and 2019.
On Monday in Parliament, the Alliance for Change for Progress (AMP) coalition, which supports the government, said the state does not have enough money for "normal operations" this month.
Francisco Vasconcelos, a member of parliament for the Popular Liberation Party (PLP), one of the three parties that make up the AMP coalition in the National Parliament, said that the state coffers "only have about US$20 million (€17 million)."
"The state needs about US$80 million to be able to guarantee its normal functioning this July," he said in the plenary session, justifying the decision to reject the request for authorisation by the head of state, Francisco Guterres Lu-Olo, to visit Portugal this week.
Regarding the stalemate on some members nof the Government taking office, Taur Matan Ruak confirmed , "there is still no 'white smoke'" but that dialogue continues with the head of state.
"The President said and repeated that he will continue to talk with the PM. I also insisted on that. There is nothing better than continuing to talk to find a solution to this case. From my point of view, the solution has to be a political and compromise solution," he said.


Agency : LUSA

Date : 2018-07-11 08:13:40


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