Timor-Leste prioritises economic diversification in 2027 budget to limit oil reliance

During a budget planning session on June 12, the Government of Timor-Leste announced that economic diversification and job creation will form the cornerstone of its 2027 State General Budget, as Dili moves to strengthen economic resilience, stimulate sustainable growth and reduce its long-standing dependence on petroleum revenues. Prime Minister Xanana Gusmão confirmed that the 2027 budget will be the first prepared under the new 2027-2030 Medium-Term Planning Framework, which is set to guide government spending and development policy over the next four years.