Thursday , March 30 2023

At the end of September, $ 17.36 billion was invested in the Timor Oil Fund


"Profit during the period was 228.83 million, representing 1.73% of revenue." In line with the benchmark, Venâncio Alves Maria, the vice-governor of the Central Bank of Timor-Leste (BCTL), met with journalists and sent reports.

The report identified a total revenue of $ 79.41 million for funding, royalties and taxes during the fourth quarter from July 1 to September 30.

During the same period, cash outflows amounted to $ 145.5 million, of which $ 140 million was in the state's general budget and the remainder in administrative expenses.

Investment profit was $ 297.72 million, of which $ 896.8 million was dividend and interest and $ 223.3 million was "fluctuations in the market value of equipment" and $ 5 million.

Compared to the end of September 2017, the fund increased approximately $ 470 million and increased $ 360 million.

The report covers the fourth quarter of 2018, when the state resides in one-twelfth, which means that fund surveys were much lower than usual during the year.

During the first nine months of the year, the total administrative budget in the twelve regimes was still $ 210 million – the VII government had only 70 million, and the VIII government only $ 140 million.

In October, $ 200 million was transferred to the general account with the budget of the 2018 General Assembly (end of September), confirmed by Venâncio Maria.

Governor Bush said the investment strategy is continuing to show a decline in imports from oil production in the Timor Sea.

Regardless of whether a more aggressive funding policy is required, BCTL officials have announced that the issue is reviewed and "timely" by the Ministry of Finance and Investment Advisory Board on a regular basis.

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