Results for Economy

Multilateral cooperation and solidarity in global trade is needed more than ever as the world navigates a “polycrisis” of climate change, pandemic, economic slowdown, inflation, food insecurity, and depletion of the oceans' resources, the World Trade Organisation Director General Ngozi Okonjo-Iweala told an outreach for Southeast Asian and Pacific journalists yesterday.

Na’e pēseti ‘e 8.7 ‘a e hikihiki fakata’u e totongi koloa fakalūkufua ‘i he lipooti ki he Hikihiki e Totongi Koloa (CPI) ‘o Fepueli. Ko e holo ‘eni mei he pēseti ‘e 9.7 ‘i he māhina kuo’osi΄, pea ma’ulalo ange ‘i he pēseti ‘e 9.1 ‘i Fepueli 2022. ‘Oku hokohoko atu ‘a e holo ‘a e hikihiki e totongi koloa fakalūkufua mei´ he tu’unga mā’olunga ko e pēseti ‘e 14 ‘i Sepitema 2022. Na’e pehē ‘e he Kōvana ‘a e Pangikē Pule΄, Tatafu Moeaki, “ ‘Oku kei hoko pē ‘a e ngaahi liliu ki he pa’anga fakalūkufua e fonua΄ mo e fokotu’utu’u ngāue fekau’aki mo e mahu’inga ‘o e pa’anga Tonga ‘i hono fakafetongi mo e ngaahi pa’anga muli΄ ‘a ia ne hā ‘i he Fokotu’utu’u Ngāue Fakapa’anga ‘o Fepueli 2023, ko e taumu’a ngāue tu’ukimu’a ki hono holoki ‘a e hikihiki e totongi koloa΄ pea ‘e malava ke hokohoko atu e ngaahi liliu´ ‘o ka fiema’u ke fakasi’isi’i e ngaahi ola kovi ‘i he holo e ivi fakatau ‘a e ngaahi fāmili΄ kae tautefito kiate kinautolu ‘oku masivesiva ange mo tu’u laveangofua”.

Investment in Kava is critical in order to enhance its value and take it to global markets, Tonga's Minister for Agriculture, Foods and Forestry, Lord Fohe, told a Kava national consultation in Nuku'alofa recently. Regional consultations are soliciting the views of individual Pacific Island countries and kava stakeholders in order to determine the priorities for the development of a Pacific Regional Kava Strategy.

New York Times reporting: More than 50,000 New Zealanders have flocked home during the pandemic, offering the country a rare opportunity to win back some of its best and brightest. The question is how long the edge will last. The Ardern government has announced no specific measures aimed at retaining citizens who return. But it is using its border shutdown as a moment to “reset” its immigration priorities, saying last week that it would loosen controls for wealthy investors while curtailing temporary visas for the migrants the country has long relied on as citizens moved away.

A “worse-than-expected outcome” for Tonga's GDP in the fiscal years 2019-20 and 2020-21 was forecast by the National Reserve Bank of Tonga, following its first board meeting for the year. During the COVID-19 international crisis Tonga's annual inflation has increased and agricultural exports have fallen. Bank lending decreased, while deposits increased.

New York Times: As most of the world still struggles with the coronavirus pandemic, China is showing once again that a fast economic rebound is possible when the virus is brought firmly under control. The Chinese economy surged in the July-to-September quarter compared with the same months last year. By Keith Bradsher.

The World Bank is convinced that its Pacific Possible PP initiative will boost economic growth in the Pacific Island Countries PIC over the next 25 years.

Economic growth in the Pacific is expected to remain at 2.9% in 2017 followed by 3.3% in 2018, according to the ADB's Asian Development Outlook 2017 supplement.

The most serious challenge confronting the Tongan society today is the physical health of our people, HM King Tupou VI said, when he opened the 2016-17 session of parliament this morning, 2 June, in a thoughtful speech that also challenged legislators to educate Tonga's children for global employment, and urged them to engage with all stake holders in the economy and not unilaterally change operating conditions, that may stifle growth.