Timor-Leste Economic Report, April 2020 : A Nation Under Pressure
Economic activity is expected to contract in 2020, owing to political uncertainty and the impact of the novel coronavirus (COVID-19). Despite a return to economic growth in 2019, failure to approve a state budget for 2020, renewed political uncertainty, and the global COVID-19 outbreak have all...
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| Format: | Report |
| Language: | English |
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World Bank, Washington, DC
2020
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| Online Access: | http://documents.worldbank.org/curated/en/960951589466425449/Timor-Leste-Economic-Report-A-Nation-Under-Pressure http://hdl.handle.net/10986/33749 |
| Summary: | Economic activity is expected to contract in 2020, owing to
political uncertainty and the impact of the novel coronavirus
(COVID-19). Despite a return to economic growth in 2019, failure
to approve a state budget for 2020, renewed political uncertainty,
and the global COVID-19 outbreak have all considerably weighed
down prospects for 2020. In addition, recent heavy rains caused
floods that affected thousands of people and many businesses.
Given these mutually reinforcing negative effects, the GDP growth
forecast for 2020 has been lowered from 4.6 percent (as projected in
the October 2019 report) to -4.8 percent. However, this projection is
still subject to much uncertainty. In particular, the economic impacts
of COVID-19 will largely depend on the direct impact of the virus, the
scope and duration of the public health measures adopted, as well as
the economic policy response. The Special Focus discusses some of
the economic transmission channels and puts forward a set of policy
interventions that may help cushion the impact on businesses and
people’s livelihoods. |
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