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Timor-Leste Contracts

Timor-Leste is one of the poorest countries in the world, with basic income, health, and literacy levels similar to those of countries in sub-Saharan Africa. Both infrastructure and resources are lacking in urban and rural areas. Oil and gas revenues have surged since 2005 as major projects in the Joint Petroleum Development Area that Timor-Leste shares with Australia have come online. The government set up a special Petroleum Fund in 2005 to facilitate the sustainable use of its revenues over the long term. The economy is dependent on government spending (financed by petroleum revenues) and assistance from international donors. Private sector development has lagged due to human capital shortages and an inefficient regulatory environment.

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