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Results for Economy

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.
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.
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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.
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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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Thursday 5 December 2013
Nuku'alofa, Tonga
During its first year of operation Tonga’s new National Retirement Benefits Fund collected over $6.15 million pa‘anga from its membership of 4,304 employees and 308 employers, and may expect to double its membership in the future as more businesses join the statutory fund, whose administration has been supported by donor funding.
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Tuesday 3 December 2013
Nuku'alofa, Tonga
The rescheduling of Tonga’s T$119 million loan from China for the reconstruction of Nuku’alofa has not been decided, according to Xu Zhiguang, the first Secretary of the Chinese Embassy, Nuku’alofa this afternoon, December 3.
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Thursday 28 November 2013
Nuku'alofa, Tonga
The World Bank has announced that it has setup a US$5 million support operation to aid Tonga’s recovering economy.
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Tuesday 5 November 2013
Nuku'alofa, Tonga
Tonga has been ranked among the Pacific region’s top performers for implementing business reforms over the last year, according to a World Bank Group annual report, however, the reason for the ranking is being questioned by those who look at business performance in Tonga.
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Thursday 17 October 2013
Nuku'alofa, Tonga
Cheaper fuel prices have been announced for mid-October to mid-November. The prices of Petrol, Kerosene and Diesel have all decreased compared to the prices approved for the last monthly period mid-September to mid-October.
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Saturday 5 October 2013
Nuku'alofa, Tonga
The Tongan economy will grow by only 0.3% in 2014, according to the Asian Development Bank Outlook ADO Update 2013 that was published this week. Tonga’s economic growth has been on a downward spiral since 2011.
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Friday 27 September 2013
Nuku'alofa, Tonga
The Asian Development Bank ADB is providing a USD$4.5 million grant to finance Tonga’s efforts to achieve fiscal stability and to improve its long-term economic growth prospects.
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