What kind of country is East Timor?

East Timor is one of the least developed countries in the world, and most of its materials depend on foreign aid.

The Democratic Republic of Timor-Leste (in English: Timor-Leste) is an island country, located at the eastern tip of Nusa Tenggara Islands, including Oecussi area in the east and west of the north coast of Timor Island, and near atauro island and Yaku Island in the eastern tip. It borders West Timor, Indonesia, and faces Australia across the Timor Sea to the south.

East Timor was originally a colony of Portugal, and was annexed by Indonesia after independence in 1975. 1On August 30th, 999, a referendum decided to separate from Indonesia, and independence was officially declared on May 20th, 2002.

Economic level:

East Timor's economic development level is backward, its structure is unbalanced, and it relies heavily on oil and gas income and foreign aid. Non-oil and gas economy is dominated by traditional service industry and agriculture. In recent years, the Government of Timor-Leste has made reducing poverty and increasing employment the key point of its administration, gradually increasing its budget, expanding public expenditure and encouraging foreign investment to stimulate non-oil and gas economic growth.

In 20 18, the fiscal revenue was $229 million and the expenditure was165438+$59 million. There is a Central Bank (BCTL) and 65,438+0 national commercial banks in East Timor. There are four foreign commercial banks, namely Caixa Geral de Depósitos (CGD/BNU), People's Bank of Indonesia (BRI), ANZ and MANDIRI. In 20 15, the foreign exchange reserve was USD 438 million.