Tonga's economic growth to drop slightly in 2017-18
Monday, December 12, 2016 - 17:17
Economic forecasts show that while the Tongan economy is expected to grow by 3.1 % in the current financial year up to 30 June 2017, it will not maintain that growth rate.
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Hi Matangi Tonga
Hi Matangi Tonga
Thanks for sharing the ADB report, however, please may I correct a technical error in your reporting: In the summary the heading says:
" Nuku'alofa, Tonga
The Tongan economy will shrink by 0.5% during the 2017 Financial Year, forecasted the Asian Development Bank ADB."
The rest of the report does not say the economy will shrink. First: the difference between 3.1% and 2.6% is 0.5 percentage point. It is not 0.5%. This is a common technical error. Secondly, the economy is still estimated to grow, only at a slightly slower rate. [given the quality of economic data a difference of 0.5 percentage point is hardly statistically significant] .
Thanks
So sad to see Tonga blindly
So sad to see Tonga blindly following an economic theory that is becoming increasingly discredited - privatisation. There are very few winners when a country goes down this path. Better to live within your means and not sell your soul to the few (who are more than likely not in your country). Build your wealth in a sustainable way that benefits the whole country but good luck finding accountants and economists that will lead the country in this direction. A benevolent leader is the potential answer but sadly most of the people leading the country are self serving at best.