2014 Trade and Investment Profile
Despite this, it remains a country with enormous poverty, and high unemployment rates and incomplete infrastructure, especially in health and education.
Oil and gas revenues have surged in recent years as projects in the Joint Petroleum Development Area that Timor-Leste shares with Australia have come online. The government set up a sovereign Petroleum Fund to ensure the sustainable use of its revenues over the long term. Government spending is mostly financed by withdrawals from the Fund.
Government spending, largely on infrastructure and social transfers, drives economic growth. Private sector development has been slow due to human capital shortages, an incomplete and bureaucratic regulatory environment, and basic infrastructure inadequacies.
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