Results for Ministry of Finance and National Planning

Tonga’s bankers, who fought to stop the imposition of a new Foreign Exchange Levy that came into effect today June 1, say the legislation is poorly drafted and imposes an unfair tax on the financial sector, which will be passed on to the community – particularly affecting remittances.

Government has approved in principle the draft Tongan Strategic Development Framework 2015-2025, ‘A more progressive Tonga: enhancing Our Inheritance’ to be shared widely to the public and stakeholders outside government for information and comment. Key Stakeholders and the public are invited to review and submit comments on the TSDFII before March 31, 2015.

The Tonga government has made millions of pa'anga available on soft loans for business investors, and Tatafu Moeaki, the CEO for the Ministry of Finance are calling on Tongan businesses to take advantage of the opportunities.

The Tongan Government has committed to fund a new ‘electricity tariff lifeline’ starting on January 1, 2015 and estimated to cost around $1 million pa‘anga a year.

The Tongan Government has opted for the choice of issuing Government bonds as part of its financing plan for its 2014/15 budget. - Tatafu Moeaki, CEO, Ministry of Finance and National Planning.

A one million pa'anga grant fund for tourism and manufacturing business development was launched by the Tonga government in Neiafu, Vava‘u on 20 September, and again in Nuku‘alofa on 23 September 2013.