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Forceful Stimulus Package to Manage the Economic and Financial Risks from the Coronavirus.

Country/Territory
Timor-Leste
Document type
Miscellaneous
Date
2020
Source
FAO, FAOLEX
Subject
Food & nutrition, General
Keyword
Social protection Financing Economic/social/cultural rights Fiscal and market measures Human rights Food security Legal proceedings/administrative proceedings Public health
Geographical area
Asia, Asia and the Pacific, Indian Ocean, Least Developed Countries, Small Island Developing States, South-Eastern Asia
Entry into force notes
From May to July 2020.
Abstract

The Interministerial Commission to Combat COVID-19 approved an economic stimulus and response package to counteract the expected negative effects of the coronavirus on the economy. The Government will execute the necessary fiscal and monetary remedies to quickly ensure that the economy survives during the Coronavirus crisis. It is a national priority to address the costs and implications of an economic shock for a three-month period, from May to July, so that people who are hurt by the negative effects are protected from loss of income and unemployment and businesses running into difficulties are able to sustain their cash flow and economic activity. Depending on how long the health emergency lasts, projections for 2020 show that the average household may suffer an income loss ranging between $170 and $670. This could conceivably push the most vulnerable people into poverty and food deficit. For this reason, the Eight Constitutional Government has identified 19 strategic measures for immediate implementation to support households and businesses in these difficult times, cushioning the economic impact of the health emergency. The economic stimulus approved today is essentially designed with a view to protect people, save jobs, sustain consumption, and aid private sector activity.

Full text
Portuguese/English/Tetum
Website
timor-leste.gov.tl