"Profit at that time amounted to 228.83 million, which corresponds to a yield of 1.73%," said Venâncio Alves Maria, Deputy Governor of the Central Bank of Timor-Leste (BCTL), meeting with journalists to disseminate the report.
The report confirms that in the quarter from July 1 to September 30, the fund recorded gross revenues of $ 79.42 million, corresponding to contributions, royalties and taxes.
At the same time, cash outflows amounted to US $ 144.15 million, of which $ 140 million went to the state budget and the rest were management costs.
Revenues from investments amounted to US $ 293.72 million, of which $ 89.86 million corresponded to dividends and interest and "market value changes in the instruments held" amounting to $ 226.35 million. The foreign exchange movement represented a loss of 22.5 million.
Compared to the end of September 2017, the fund grew by about $ 470 million and rose by $ 360 million.
The report covers the last quarter of 2018, when the state lived with twelve, which meant that fund surveys were much lower than usual over the course of the year.
In the first nine months of the year and in the twelve-month regime, only surveys of the state budget of $ 210 million were made – 70 million for government VII and 140 million for government VIII.
In October, with a general state budget of 2018 – endorsed in late September – in force, $ 220 million was transferred to public accounts, Venâncio Maria confirmed.
On a question about an investment strategy, a deputy governor said the downward trend in yields from oilfield production in East Timor continued.
Whether there is a need for more aggressive fund policies, the BCTL official said that the issue was regularly reviewed by the Treasury, the Investment Advisory Board and updated on a "timely basis".