Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). Find Out

publication November 23, 2018

October 2018 Timor-Leste Economic Report: Regaining Momentum?

Image

Key findings:

  • GDP growth has fallen sharply in 2017 to -4.7 percent.
  • GDP forecast to improve to 0.8 percent for 2018.
  • Outlook remains uncertain, depending on budget execution.
  • Offshore oil production continues to decline, however the Petroleum Fund recorded strong investment returns.

"The outlook for 2018 remains relatively uncertain, partly depending on budget execution levels. Approval of the 2019 budget is of critical importance, with economic growth expected to recover next year, underpinned by higher levels of public spending and private sector activity."
Pedro Martins
Senior Country Economist for Timor-Leste