By Katalina Siasau
The development of the private sector is the primary focus of Tonga's new budget, the Prime Minister Hon. Dr 'Aisake Eke said today. His Cabinet has finalized the budget for 2025-2026, to be presented to the Legislative Assembly next week.
"What distinguishes this budget from any other budget is the focus on the development of the private sector,” he told a media briefing at St George government building this afternoon.
However, the PM noted that details of the new budget will not be disclosed until it has been presented to Parliament.
PIF overseas meetings
The Prime Minister recently returned from a three-week overseas trip, where he represented the Pacific in his capacity as Chair of the Pacific Islands Forum (PIF).
His significant meetings in the United States included discussions with the World Bank, the International Monetary Fund (IMF), and representatives from the US Treasury and State Department at the White House.
Hon. Dr. Eke and Forum Secretary General Baron Waqa met with the United States Deputy Secretary of State, Christopher Landau, and conveyed the concerns of the 18 Pacific Islands Members regarding the US's new trade and tariffs policy.
PM Hon. Dr Eke is concerned about how these policies might impact the Pacific region. “It was very important to have discussions with the (US) government on potential impacts,” he said.
A key objective of the discussions with the World Bank and IMF is to promote the Pacific Resilience Fund (PRF), which targets USD$$500 million by 2026. Hon. Dr Eke said it was a successful discussion, noting a strong support from both the World Bank and the IMF for the establishment of the Pacific’s PRF, which will be headquartered in Tonga.
