Timor-Leste Economy Grapples with Dual Impacts of Pandemic and Cyclone Seroja

 Timor-Leste Economy Grapples with Dual Impacts of Pandemic and Cyclone Seroja

Dili, 10 June, 2021 – Economic activity in Timor-Leste has been substantially weakened by the impacts of a recent COVID-19 outbreak and fallout from Cyclone Seroja, according to the latest World Bank economic report for Timor-Leste, released today. However, GDP is still projected to grow by 1.8 percent in 2021, underpinned by stronger public spending.

The Report, Timor-Leste Economic Report: Charting a New Path, looks at recent developments in the country and finds that COVID-19 is spreading rapidly, despite early successes in containing the virus. Adding to these challenges is the aftermath of Cyclone Seroja, which brought flooding, landslides, considerable human loss, and economic damage to Timor-Leste in April 2021. Together, these health and humanitarian emergencies are undermining the country’s economic recovery in 2021, although the recent approval of a revised budget may provide some relief, says the…

Read full article…www.worldbank.org