Timor oil economy

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As the government of Xanana Gusmoa in East Timor looks set to hang on to power, one thing seems certain and that is the continued spending of the country's 10.5 billion dollar petroleum fund.

The fund, last year provided 97 per cent of East Timor's budget spending, and the opposition Fretilin party had accused Mr Gusmao of frittering it away for no real gain.

But many around the country are counting on it to improve infrastructure and kick-start a non-oil economy in the tiny country.


14 Feb 2013

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leste, timor

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