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Results for Economy

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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Wednesday 27 March 2013
Nuku'alofa, Tonga
The Tongan economy is stuck in a "development trap", according an International Monetary Fund (IMF) report on the current state of the Tongan economy that was released on Monday, March 25.
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Monday 4 March 2013
Nuku'alofa, Tonga
Emigration is invaluable to Tonga if its economy is to improve, according to a new Labour Market study on the demand for skills training in Tonga.
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Wednesday 6 February 2013
Nuku'alofa, Tonga
Foreign Reserves held by the National Reserve Bank of Tonga rose by $3.6 million, from $253.7 million in November to $257.3 million in December, or 9.3 months of imports.
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Monday 4 February 2013
Nuku'alofa, Tonga
Tonga's income is continuing to fall, the Governor of the National Reserve Bank of Tonga, Joyce Mafi, told the Tonga Chamber of Commerce and Industries on January 30, in a presentation on the state of Tonga's Economy.
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Wednesday 9 January 2013
Nuku'alofa, Tonga
Acquiring a business license in Tonga will now be easier under a new Business License Registration Regulation. It comes as part of parliament’s amendments to the Business Registration Act last year.
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Friday 4 January 2013
Nuku'alofa, Tonga
The government’s repayment of loans poses a fiscal challenge in 2013, this according to the Asian Development Bank’s Pacific Economic Monitor.
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Saturday 3 November 2012
Nuku'alofa, Tonga
The Tonga Development Bank has announced a 50% reduction in loan repayments rates to help its clients to meet obligations during the current financial and economic challenges in Tonga.
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Thursday 31 May 2012
Nuku'alofa, Tonga
A continue decline of Tonga's foreign currency earnings has stifled the growth of the Tongan economy, the Governor of the National Reserve Bank of Tonga, Mrs Siosi Mafi said this morning, May 31.
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Wednesday 23 May 2012
Bangkok, Thailand
Pacific countries cannot be left isolated from regional economic integration initiatives in the Asia-Pacific region.
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