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Results for Economy

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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Wednesday 18 September 2013
Nuku'alofa, Tonga
New fuel prices announced for September-October will see a decrease in the price of petrol for the first time in months. Prices for diesel and kerosene, however, continue to rise.
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Monday 22 July 2013
Nuku'alofa, Tonga
A top priority for Tonga is a reduction in the size of its public service and a reduction of the wage bill to 45%, from the current height of about 75% of the government's annual budget, a new economic report by the Asian Development Bank recommends. It also recommended for government to appoint an Anti-corruption Commissioner.
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Monday 1 July 2013
Nuku'alofa, Tonga
Although Tonga’s economy continues to be weak, there are some positive indicators, according to a market update on July 1, by the Deputy Governor of Tonga’s National Reserve Bank, Jessie Cocker, who met with senior regional officers of ANZ Bank on June 28.
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Tuesday 11 June 2013
Nuku'alofa, Tonga
The Minister of Finance, Hon. Lisiate 'Akolo has launched Tonga's biggest ever national budget amounting to T$357.6 million for the 2013-14 financial year, and expressed concern over low returns to government from public enterprises.
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Wednesday 22 May 2013
Nuku'alofa, Tonga
The Commonwealth is encouraging the G20 group of the world’s major economies to ensure that it protects and supports the development of smaller economies.
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Monday 6 May 2013
Nuku'alofa, Tonga
The National Reserve Bank of Tonga is running out of ideas on how to encourage commercial banks to lend more money at a time when the Tongan economy is very weak, the Reserve Bank Governor Siosi Mafi said on Friday May 3 when she presented the Monetary Policy Statement for the end of February.
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Thursday 18 April 2013
Nuku'alofa, Tonga
Although Tonga lacks real statistics on the economic cost of domestic violence, the cost of the crime to the country is huge. Awareness is the key, and it is not easy to estimate the cost of family violence unless we all come out and talk about it, Siosi Mafi, the Governor of the National Reserve Bank of Tonga said on April 17.
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Thursday 11 April 2013
Nuku'alofa, Tonga
Official Foreign Reserves held by the National Reserve Bank of Tonga have decreased for the first time in five months. The official reserve for the month of February was T$258 million. This is $2.3 million less than the reserve of $260 Million for January.
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Wednesday 27 March 2013
Nuku‘alofa, Tonga
Future projections for Tonga’s current debt crisis are not looking good, with an ever-rising tide of debt repayments visible over the next three years, leading to concerns that the government will be unable to maintain basic services.
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