Tonga’s Parliament passed the 2022-2023 annual budget yesterday June 14.

Totalling a $764.7 million Pa'anga, it is the Kingdom’s largest ever annual budget.

According to the Ministry of Finance, most of the budget ($437 million) will be financed by Government while the rest ($327.7 million) will be financed by Development Partners.

Of the total,  $573.1 million will be in cash, and $191.6 million in the form of goods and services provided by foreign Aid Donors.

In January 2022 Tonga’s Foreign Reserve was estimated to be $856.1 million, and in April went up to $884.0 million, equivalent to 12.7 months of imports.