Over the past three decades, public spending on infrastructure, as a share of GDP, has been on the decline worldwide. Although the link between infrastructure investment and economic growth is not yet fully understood, the quality of infrastructure clearly affects a country's productivity,...

Timor-Leste weathered the global financial crisis well and experienced healthy economic growth rates. It has made solid progress in strengthening the public financial management systems. The budget document provides comprehensive information; fiscal transparency is high. The Ministry of Finance...