Democratic Republic of Timor-Leste: Public Financial Management-Performance Report

Author: International Monetary Fund

Volume/Issue: Volume 2010 Issue 341

Publication date: November 2010

ISBN: 9781455212613

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Public Finance , ISCR , CR , annual budget , financial year , capital budget , minister of finance , cash balance , Budget planning and preparation , Budget execution and treasury management , Auditing , Global

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Summary

Timor-Leste weathered the global financial crisis well and experienced healthy economic growth rates. It has made solid progress in strengthening the public financial management systems. The budget document provides comprehensive information; fiscal transparency is high. The Ministry of Finance lacks the time and capacity for adequate review of rationale, costing, and impact of public investment. Internal and external audit form the largest gaps in the present public financial management system. Buy-in and long-term commitment from development partners will be essential.