Banking and Payments Authority of Timor-Leste - AR

According to the Banking and Payments Authority of Timor-Leste's Annual Report 2004-2005, economic activity in Timor-Leste picked up in 2004 impacted by favorable crops in agriculture sector and expanded banking activity.

This positive result reverses the weak performance observed in the previous year, when the non-oil GDP declined sharply. In 2005, the economy's output is expected to grow at a faster pace and gradually converge toward its potential level thereafter.

The banking system showed

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