RE: Greater SunriseToday 08:47
State Council, constitutional advisory body of the President of the Republic.
Given the current international situation with an inevitable impact in East Timor, I convened an extraordinary meeting of the State Council to hear Prime Minister Xanana Gusmão report on some topics of great importance:
• Government policies and strategy to weaken the impact of multiple international crises on the economy of Timor-Leste and their social ramifications;
• Progress in negotiations with partner oil companies on the development of the GREATER SUNRISE gas field;
• Negotiations with Indonesia on the land and maritime borders between the two countries;
• Technical preparations for the presidential elections in 2027.
The Prime Minister Xanana, very scholarly, tireless, made a thorough, very elucidative presentation on topics of great importance to East Timor.
The Governor of the Central Bank of Timor-Leste, Dr. Helder Lopes, has been invited to complement the Prime Minister's speeches on the management of the Sovereign Fund of Timor-East.
The economic indicators are positive with a projected growth of 5% in 2026. Inflation is going down.
(The annual inflation rate in East Timor fell to 0.8% in March 2026, down from 1.0% checked in February. The average annual inflation projected by the Timorese government for this year is 2.2%, driven mainly by fluctuations in food prices on the global market and 26, compared to 1.0% in February, the lowest in seven months)
According to the IMF, Timor-Leste is one of the few countries in the world less affected by the global energy and economic crisis because with a well-managed sovereign fund, strong reserve in US$, which the Government can resort to to mitigate the social impact of the energy and consumer goods crisis.
Timor-Leste benefits from the appreciation of US$ against currencies of countries where we have a strong trade deficit. Our import bill goes down with dollar appreciation.
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