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Results for Economy

Thursday 12 October 2017
Nuku'alofa, Tonga
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.
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Friday 4 August 2017

Nuku'alofa, Tonga
A new customs duty and excise tax introduced last year has driven import prices up causing inflation to hit significantly high levels in Tonga. Annual inflation rose by 10% over the year to May 2017 - well above the National Reserve Bank of Tonga's reference rate of 5%.
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Tuesday 25 July 2017
Nuku'alofa, Tonga
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.
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Thursday 23 June 2016
Nuku'alofa, Tonga
In its latest state of the economy report, the International Monetary Fund (IMF) has called on Tonga to improve its debt management, make broader reforms to increase revenue, and to effectively manage public spending. In the IMF's 2016 Article IV report released this week, Tonga was also encouraged to continue to seek concessional and grant financing for the South Pacific Games, while the report welcomed Tonga's efforts in curbing the wage bill and avoiding cost overruns. It urged Tonga to provide more opportunities for private sector development.
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Thursday 2 June 2016

Nuku'alofa, Tonga
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.
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Friday 20 May 2016
Nuku'alofa, Tonga
ANZ has reduced its International Money Transfer fees from New Zealand to Tonga, Samoa and Vanuatu aimed to make it easier for remittances that support incomes across the region.
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Thursday 31 March 2016

Nuku'alofa, Tonga
Up to half a million pa’anga of “unclaimed” money held in bank accounts at the Bank of the South Pacific in Nuku’alofa will be swallowed up by the government in June if the amounts are not claimed by the owners soon. Several accounts belonging to the King of Tonga, as well as an Emergency Relief Trust Fund, a private retirement fund, and funds belonging to societies and groups such as the Tonga Society of Accountants, the Sisters of Mercy, the Ferry Princess Ashika Vava’u Victims Fund, the Friendly Island Teachers Association, and numerous PTA accounts, along with those of individuals and a few companies, will be included in a mass transfer of funds if unclaimed.
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Tuesday 29 March 2016

Nuku'alofa, Tonga
Japan yesterday agreed to commit $3.6 million pa'anga to Tonga to purchase goods, which may include sports equipment, to help promote economic and social development efforts.
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Wednesday 17 February 2016
Sydney, Australia
rivate sector reforms are leading to increases in business investment across the Pacific, including Tonga, according to the latest Pacific Private Sector Development Initiative (PSDI) progress report for the 2014-15 period.
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Wednesday 20 January 2016
Nuku'alofa, Tonga
Tonga and the rest of the Pacific Islands could tap into an online market to create thousands of jobs in IT-related industries according to a World Bank study released in December.
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Thursday 3 December 2015
Nuku'alofa, Tonga
Tonga civil service has been awarded a 5% pay increase back dated to 1 July 2015, and to be paid before December 22.
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Friday 23 October 2015

Nuku'alofa, Tonga
Tonga and Forum Island Countries (FIC) will benefit from enhanced regional trade and economic integration under the Pacific Agreement on Closer Economic Relations (PACER) Plus Agreement, with Australia and New Zealand.
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Wednesday 15 July 2015
Nuku'alofa, Tonga
The economies of 14 developing member countries in the Pacific are expected to be unstable during 2015-2016, according to Pacific Economic Monitor Midyear Review, launched by the Asian Development Bank in Suva today, 15 July.
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Friday 27 February 2015
Nuku'alofa, Tonga
Pacific Island states are calling for a greater mutual recognition of qualifications between Pacific countries and Australia and New Zealand in the hope that it would boost labour mobility.
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Monday 25 August 2014
Nuku'alofa, Tonga
Low interest loans will be available to the Private Sector from a new government investment incentive fund that is being managed through the Tonga Development Bank, Ministry of Finance and National Planning announced today.
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Saturday 21 June 2014
Suva, Fiji
Which is better for financing the budget: foreign aid or debt? That is always the question before Pacific island countries (PICs) each year. The dilemma becomes acute when the future is uncertain with mounting public debts and rising debt servicing obligations. By T. K. Jayaraman
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Tuesday 27 May 2014
Tarawa, Kiribati
Trade ministers from around the region will attend the Pacific Forum Trade Ministers tomorrow 28 May in Tarawa, Kiribati.
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Friday 4 April 2014
Nuku'alofa, Tonga
The Ha’apai Group will not be joining the Royal Agricultural, Fisheries and Industrial Shows in 2014 due to the extensive damage caused by Tropical Cyclone Ian in January this year.
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Friday 28 March 2014
Nadi, Fiji
Fiji is a lap ahead of Tonga when it comes to export initiative. A Fijian business was able to successfully secure an export of 13 tonnes of frozen vegetables, fruits, root crops and fish for the United States last week.
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Thursday 13 March 2014
Nuku'alofa, Tonga
“Hardship” is the new word describing poverty in the Pacific Islands, where “the label of poverty is considered culturally inappropriate,” according to a report released by the World Bank this week, that highlights the increasing concerns over the vulnerability of many people living in its 11 member countries.
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