A draft budget of $899.2 million for the year 2024/25 was announced by the Government of Tonga, stating that it is the first balanced budget proposed by government to parliament since 2019/20. There will be no new domestic tax proposed for FY 2024/25. Civil Servants will receive a 5% Cost of Living allowance in July, in addition to the 5% COLA effective in January this year.
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Results for fiscal planning
Thursday 13 June 2024
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Nuku'alofa, Tonga
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Tuesday 23 July 2019
Manchester, United Kingdom
In a well-functioning parliamentary system, the state budget is overseen by a group of elected authorities in a relatively transparent manner. No one person has the power to shape the process in self-serving ways. Embedding checks and balances into governance – particularly to limit the executive’s discretionary budgetary authority – is integral to accomplish the kind of structural transformation developing countries need if they are to create more stable, prosperous futures well beyond 2030. By Tania Masi, Roberto Ricciuti, Antonio Savoia, and Kunal Sen.
