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Timor-Leste
At VdA, our lawyers have assisted several projects and clients in Timor-Leste, particularly in the telecommunications, banking & finance and Oil&Gas sectors, further standing out for their extensive work in legislative production as part of the legal reforms undertaken in the most recent years.
"Timor-Leste’s economy is expected to grow in 2021 and 2022, supported by large public investments and the government’s Economic Recovery Plan. The growth prospects are clouded by a surge of coronavirus disease (COVID-19) cases since March 2021 and severe damage from the flooding in April, according to a new report from the Asian Development Bank (ADB).
The Asian Development Outlook (ADO) 2021 projects Timor-Leste’s non-oil gross domestic product to grow 3.4% in 2021, following a contraction of -7.9% in the economy in 2020. Inflation will edge up, partly because of higher international food prices. Inflation is forecast to increase to 2.0% in 2021 from 0.5% in 2020. The forecast assumes that the country can keep the pandemic in check."
Asian Development Bank, Timor-Leste and ADB, 2021