Trading more active, but deeper contraction of GDP expected with extended lockdowns

Tonga’s Domestic Economic activities showed some improvements in May 2021, Sione Ngongo Kioa, the Governor of Tonga’s National Reserve Bank told the National Reserve Bank of Tonga’s Board of Directors on 5 August. However, the Reserve Bank’s GDP outlook projected a deeper contraction in Tonga’s economy for 2020-21 as the extended lockdowns and uncertainties present significant risk.