Timor-Leste, 14 years on

EPA/ANTONIO DASIPARU

East Timorese men march during a ceremony to mark the country's 14th Independence Day anniversary in Ermera distric, East Timor, 20 May 2016.

Timor-Leste, 14 years on


Thousands of Timorese gathered at the city of Ermera to celebrate their southeast Asian nation's independence this month. Timor-Leste gained its freedom in 2002 and since then has relied heavily on revenue from its oil and gas reserves to fund development.

As reported by Channel NewsAsia, however, declining oil production, leading to falling revenue, has highlighted the need to diversify the economy.

Prime Minister Rui Maria de Araujo said the government has taken steps to reduce dependenc...


This story is part of New Europe's Premium content.

To Read the Full Story, Subscribe or Sign In from the ↑ Top of the Page ↑
new europe join now