Higher imported and domestic prices have driven increasing inflation in Tonga. In the year to August 2021 inflation rose by 7.0%, the National Reserve Bank of Tonga reported. Annually, foreign reserves increased, resulting from more receipts of budget support, project funds, and remittances.
You are here
Results for Tonga remittances
Tuesday 30 November 2021
Friday 24 April 2020
Overseas remittances are predicted to fall by 13 percent in the East Asia and Pacific region this year affecting countries such as Tonga, due to the economic crisis caused by CoViD-19, according to the World Bank. Migrant remittances to Tonga in 2019 made up 37.6 percent as a share of GDP.
Thursday 29 October 2015
Now that Government has found a way to levy a 1% taxation on remittances...it adds to the high currency transaction fees that the banks and fund transfer operators are already charging ordinary folks. Instead of finding ways to improve the economy, Government is once again robbing people of the only source of income from the hard labor of their loved ones living and working overseas. – Sione Ake-mei-hakau Mokofisi.
Monday 4 February 2013
Tonga's income is continuing to fall, the Governor of the National Reserve Bank of Tonga, Joyce Mafi, told the Tonga Chamber of Commerce and Industries on January 30, in a presentation on the state of Tonga's Economy.