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Results for Economy

Monday 20 October 2008
Nuku'alofa, Tonga
Tonga's official Foreign Reserves held by the National Reserve Bank of Tonga for September rose by $37.2 million, from $91.3 million to $128.5 million, an amount equivalent to 5.3 months of imports.
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Thursday 16 October 2008
Nuku'alofa, Tonga
Tonga's No. 1 economic problem is that it cannot provide employment for its growing population, including the estimated 2000 school leavers who annually join the work force, according to an Asian Development Bank report that looks at why Tonga's economy is not achieving its potential.
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Wednesday 8 October 2008
Nuku'alofa, Tonga
Tonga's official Foreign Reserves for August 2008 rose by $5.1 million to $91.3 million, following seven months of decline.
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Monday 22 September 2008
Nuku'alofa, Tonga
The collapse of some financial credit institutions n the United States this month has not directly impacted Tonga, according to the Minister of Finance Hon. 'Afu'alo Matoto today.
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Monday 22 September 2008
Nuku'alofa, Tonga
After 11 years of closure, Tonga has lifted its ban on the fishing of sea cucumbers but only for a limited six month period per year, confirmed the Deputy Director of the Ministry of Fisheries ‘Ulunga Fa‘anunu today.
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Wednesday 2 July 2008
Nuku'alofa, Tonga
Petroleum prices in Tonga's remote Niuas islands passed the $4 a litre mark, following yesterday's nationwide fuel price rise that added between .20 seniti to .22 per litre on last month's price.
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Friday 27 June 2008
Nuku'alofa, Tonga
Tonga's future prosperity depends on private sector lead economic growth, and business cannot grow in government's shadow, said Tonga's Minister of Finance, Hon. Afu'alo Matoto in launching his first budget to the community.
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Tuesday 24 June 2008
Nuku'alofa, Tonga
Tonga is waking up after a long slumber, Tonga's Minister of Finance, Hon. Afu'alo Matoto said this morning, predicting that a small growth in the economy next year might turn around a long decline in the country's economic performance.
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Friday 13 June 2008
Nuku'alofa, Tonga
The Acting Chairman of the National Economic Development Council (NEDC), Hon. Paul Karalus, allocated $50,000 pa'anga to the Tonga Chamber of Commerce this week for the establishment of a new organisation that can represent the main sectors that contribute to the Tongan economy.
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Friday 6 June 2008
Nuku'alofa, Tonga
Tonga's official foreign reserves for May held by the National Reserve Bank of Tonga, stood at $89.5 million, the equivalent of 3.6 months of imports of goods.
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Saturday 17 May 2008
Nuku'alofa, Tonga
Tonga's official foreign reserves for April, that was held by the National Reserve Bank of Tonga NRBT fell by $6.6 million to $89.7 million, the equivalent of 3.6 months of imports of goods, and the lowest that our foreign has ever been for a few years.
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Monday 14 April 2008
Nuku'alofa, Tonga
Economic activity in Tonga is likely to be contracted markedly in 2007, as the Kingdom's economy suffered following a poor agricultural season, the large-scale reduction in civil service workers and the near-destruction of Nuku'alofa's central business district. Reconstruction is taking a long time with only a few projects underway nearly 18 months following the civil disturbance of November 2006.
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Thursday 13 March 2008
Nuku'alofa, Tonga
Tonga's Foreign Reserve for February fell by $11.3 million to $101.8 million. The National Reserve Bank of Tonga stated yesterday that the large fall reflect a "higher oil payments during the month."
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Friday 15 February 2008
Nuku'alofa, Tonga
As Tonga's electricity price goes up by 20.7% to 23% tonight households and small businesses will wake up in the morning to face the fact they will be paying hundreds of pa'anga more for their electricity supply this year, while for larger businesses the new rate will increase their costs by thousands of pa'anga per year.
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Thursday 14 February 2008
Nuku'alofa, Tonga
Tonga's bankers, who are very concerned with Tonga's currently depressed export earnings, and its reliance on aid donors and foreign remittances for its source of foreign earnings, will meet today to consider solutions.
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Monday 4 February 2008
Nuku'alofa, Tonga
Tonga needs more remittances and more foreign aid flowing into the country, if it is to maintain a balance of trade with Australia and New Zealand, its main trading partners, Hon. Afu'alo Matoto, the Minister of Information said last week.
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Wednesday 30 January 2008
Nuku'alofa, Tonga
The current value of the Tongan Pa‘anga continues to steadily weaken against the Australian and New Zealand dollar at the same it strengthens against the US dollar.
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Monday 28 January 2008
Nuku'alofa, Tonga
Tonga's Foreign Reserve in December 2007 increased by $19.8 million, from $94.8 million in November to $114.6 million, an amount equivalent to 5.1 months of imports of goods.
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Thursday 20 September 2007
Nuku'alofa, Tonga
The Tonga Customs Department reintroduced the charging of Customs Duties on personal belongings last week after a lapse of nearly two years.
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Thursday 20 September 2007
Nuku'alofa, Tonga
The Tongan economy and governance issues will be discussed tomorrow in Nuku'alofa in "Tonga Update", a program of the Australian National University, Canberra, and the Ministry of Finance, Tonga.
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