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Results for Economy

Monday 29 June 2015

Nuku'alofa, Tonga
Tonga new currency notes and coins were launched by HM King Tupou VI this morning, 29 June, at the Fa’onelua Convention Centre.
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Wednesday 15 April 2015
Nuku'alofa, Tonga
The World Bank has warned Tonga of large fiscal risks which are lurking in the horizon, “the repayment of its two external loans, the financing of the 2019 South Pacific Games, and the periodic large public servant wage demands.”
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Wednesday 25 February 2015
Nuku'alofa, Tonga
A Tonga government review has stated that Tonga has fallen behind in three Millennium Development Goals: poverty eradication, gender equality and non-communicable diseases (NCDs) which are at a “crisis level”.
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Thursday 19 February 2015
Nuku'alofa, Tonga
Tonga’s over all Public Debt at the end of January 2015 stood at $392.6 million pa‘anga or 48.4% of its Gross Domestic Product (GDP), according to financial statistics released by the Ministry of Finance this week.
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Friday 9 January 2015
Nuku'alofa, Tonga
Running a business in Tonga is getting harder, according to a new World Bank report titled “Doing Business 2015”. The annual report assesses the “ease of doing business” in countries across the world. Tonga’s ranking was dragged down by poor ratings for property registration, difficulties in resolving insolvency and poor shareholder rights.
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Monday 22 December 2014
Nuku'alofa, Tonga
With domestic inflation easing since June and headline inflation well below the reference range of 6-8% there are no inflationary pressures on the monetary policy stance in the near term, the National Reserve Bank of Tonga reported on December 17.
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Tuesday 18 November 2014
Nuku'alofa, Tonga
Employees at the National Reserve Bank of Tonga (NRBT) can take mortgages starting on November 14, 2014, following the Gazetting of a new order.
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Thursday 30 October 2014
Washington, USA.
Tonga’s economy is set to receive a boost after the World Bank today approved a second USD$5 million operation to support growth through the government’s national development strategy.
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Monday 29 September 2014
Nuku'alofa, Tonga
The inflation rate for the month of August this year 2014 was almost three times higher than the inflation rate for the month of August last year 2013.
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Thursday 25 September 2014
Nuku'alofa, Tonga
An August completion report by the Asian Development Bank (ADB) has indicated challenges facing privatization and fiscal sustainability in Tonga.
Thursday 18 September 2014
Currency

Nuku'alofa, Tonga
The Tongan currency (Pa’anga) has shown a continuing decline against the New Zealand and Australian dollars over the last 15 years, and the pa’anga is, arguably, in its worst year ever against its major trading partners.
Tuesday 12 August 2014
Nuku'alofa, Tonga
The Ministry of Revenue & Customs is announcing a new small business tax after changes to the Income Tax Law that brings everyone into the new turnover system that began on 1 July 2014. The new tax is compulsory unless business owners apply for an option to remain in the current profit based system.
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Thursday 7 August 2014
Washington, USA
A need to continue to improve the business environment in Tonga and to bolster confidence is stressed by the International Monetary Fund (IMF) in its 2014 country report for Tonga released today, which also notes that the Tongan economy is rebounding supported by agricultural exports and post-cyclone reconstruction activity.
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Wednesday 9 July 2014
Nuku'alofa, Tonga
An Asian Development Bank report has stated that the Tongan economy grew 1.5% for the year 2014 (ending 30 June).
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Tuesday 17 June 2014
Nuku'alofa, Tonga
Tonga has two accumulating government debts that the Minister of Finance, Dr ‘Aisake Eke plans to address during the 2014-15 Financial year.
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Friday 2 May 2014
Nuku'alofa, Tonga
A rise in Tonga’s Gross Domestic Product in the coming years will be driven primarily by the reconstruction of Ha’apai, according to the IMF 2014 Article IV consultation report on Tonga, which also recommended a broading of the Consumption Tax base.
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Thursday 3 April 2014
Nuku'alofa, Tonga
The Tongan economy is expected to rebound during the 2014 Financial Year, according to the Asian Development Bank Economic Outlook for 2014.
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Friday 21 March 2014
Nuku'alofa, Tonga
The Asian Development Bank (ADB) is weeding out corruption from its development projects, barring any firm or individual it believes is cheating development projects.
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Thursday 27 February 2014
Nuku'alofa, Tonga
Cyclone Ian could be a blessing in disguise for Tonga’s struggling economy, with the Reserve Bank now predicting an economic stimulation from the inflow of new development assistance.
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Friday 6 December 2013
Nuku'alofa, Tonga
Tonga’s banks remain flush with funds, and are being urged to lend more to help stimulate an economy that looks as if it has stalled this year, as all key industries in Tonga except for construction recorded falls in lending, according to figures released today.
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