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Results for Economy

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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Friday 10 August 2007
Nuku'alofa, Tonga
Tonga's Foreign Reserve of July fell by $1.3 million from $91.6 million in June, to $90.3 million in July, an amount equivalent to 4.3 months of imports of goods.
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Thursday 2 August 2007
Sydney, Australia
The new president of the World Bank, Bob Zoellick, has said it is "absolutely critical" that South Pacific nations be able to send guest workers to Australia.
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Friday 20 July 2007
Nuku'alofa, Tonga
The price of electricity throughout Tonga will go up by 6.8 seniti per unit at the next meter reading in early August. The 11% increase is retrospective to the July electricity use.
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Tuesday 3 July 2007
Nuku'alofa, Tonga
The National Economic Development Council, a new government entity met for the first time on June 20.
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Saturday 30 June 2007
Nuku'alofa, Tonga
Tonga will become a full member of the World Trade Organisation on July 27, after filing formal ratification papers with the WTO Headquarters in Geneva on Wednesday.
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Thursday 31 May 2007
Nuku'alofa, Tonga
The Tongan economy should bounce back during the new financial year, HM King George Tupou V said this morning in his speech from the throne to open Tonga's 2007 parliamentary session.
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Wednesday 16 May 2007
Brussels, Belgium
The ACP Council of Ministers will hold its 85th session in ACP House (Brussels), from 22 to 24 May 2007, under the chairmanship of Lesotho.
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