The current account surplus is estimated to have shrunk notably to 4.3% of GDP in 2015 from almost 25% of GDP in 2014 due to declining oil and gas receipts, lower investment returns and higher imports driven by public works. The decline in global oil prices has resulted in a 56% reduction in forecast petroleum revenues for the period 2016-2022 and a 15% reduction in the country’s estimated total petroleum wealth. The position of the Timor-Leste Petroleum Fund recently deteriorated from nearly $17 billion in 2014 to $16.4 billion in September 2015, and more withdrawals are needed to finance planned expenditures in coming years. Meanwhile, growth of non-oil sectors is set to pick up to 5-5.6% in 2016 and 2017 on the back of sustained government spending and higher foreign investment.