The Tongan government is looking at giving Tongan civil servants another salary rise to increase their buying power and stimulate the economy, Tonga's Minister of Finance, Hon. Afu'alo Matoto told Matangi Tonga at the end of April, when he estimated that Tonga's economic growth for the current year would not reach one per cent. By Pesi Fonua.
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Results for Economy and Trade
Monday 27 April 2009
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Nuku'alofa, Tonga
Tongan seasonal workers who are picking almonds in Robinvale, Victoria are earning good money and sending remittances back to their families in Tonga, reports Vava'u People's Representative 'Etuate Lavulavu.
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Wednesday 1 April 2009
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Nuku'alofa, Tonga
Fuel prices rose throughout Tonga today with motor spirits reaching $2.22 per litre in Tongatapu and up to $2.95 in Niuatoputapu.
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Friday 6 February 2009
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Nuku'alofa, Tonga
Tonga's foreign reserves increased by $6.4 million reaching $130.3 million in January 2009.
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Wednesday 21 January 2009
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Nuku'alofa, Tonga
Six newly-designed Tongan pa'anga notes of different demoninations, featuring King George Tupou V were released for circulation today by the National Reserve Bank of Tonga.
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Thursday 15 January 2009
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Nuku'alofa, Tonga
Tonga's foreign reserves increased by $1.2 million to $123.9 million in December 2008.
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Wednesday 14 January 2009
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Nuku'alofa, Tonga
Petroleum prices dropped down to the $2 litre mark, following a nationwide fuel price decline that saw over 60 seniti drop from last month's price on the main island Tongatapu.
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Monday 22 December 2008
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Nuku'alofa, Tonga
FROM OUR ARCHIVES. The positive economic impact of the Coronation of HM King George Tupou V on Tonga's economy is estimated at $19.7 million pa'anga.
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Monday 20 October 2008
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Nuku'alofa, Tonga
Tonga's official Foreign Reserves held by the National Reserve Bank of Tonga for September rose by $37.2 million, from $91.3 million to $128.5 million, an amount equivalent to 5.3 months of imports.
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Thursday 16 October 2008
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Nuku'alofa, Tonga
Tonga's No. 1 economic problem is that it cannot provide employment for its growing population, including the estimated 2000 school leavers who annually join the work force, according to an Asian Development Bank report that looks at why Tonga's economy is not achieving its potential.
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Wednesday 8 October 2008
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Nuku'alofa, Tonga
Tonga's official Foreign Reserves for August 2008 rose by $5.1 million to $91.3 million, following seven months of decline.
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Monday 22 September 2008
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Nuku'alofa, Tonga
The collapse of some financial credit institutions n the United States this month has not directly impacted Tonga, according to the Minister of Finance Hon. 'Afu'alo Matoto today.
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Monday 22 September 2008
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Nuku'alofa, Tonga
After 11 years of closure, Tonga has lifted its ban on the fishing of sea cucumbers but only for a limited six month period per year, confirmed the Deputy Director of the Ministry of Fisheries ‘Ulunga Fa‘anunu today.
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Wednesday 2 July 2008
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Nuku'alofa, Tonga
Petroleum prices in Tonga's remote Niuas islands passed the $4 a litre mark, following yesterday's nationwide fuel price rise that added between .20 seniti to .22 per litre on last month's price.
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Friday 27 June 2008
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Nuku'alofa, Tonga
Tonga's future prosperity depends on private sector lead economic growth, and business cannot grow in government's shadow, said Tonga's Minister of Finance, Hon. Afu'alo Matoto in launching his first budget to the community.
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Tuesday 24 June 2008
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Nuku'alofa, Tonga
Tonga is waking up after a long slumber, Tonga's Minister of Finance, Hon. Afu'alo Matoto said this morning, predicting that a small growth in the economy next year might turn around a long decline in the country's economic performance.
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Friday 13 June 2008
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Nuku'alofa, Tonga
The Acting Chairman of the National Economic Development Council (NEDC), Hon. Paul Karalus, allocated $50,000 pa'anga to the Tonga Chamber of Commerce this week for the establishment of a new organisation that can represent the main sectors that contribute to the Tongan economy.
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Friday 6 June 2008
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Nuku'alofa, Tonga
Tonga's official foreign reserves for May held by the National Reserve Bank of Tonga, stood at $89.5 million, the equivalent of 3.6 months of imports of goods.
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Saturday 17 May 2008
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Nuku'alofa, Tonga
Tonga's official foreign reserves for April, that was held by the National Reserve Bank of Tonga NRBT fell by $6.6 million to $89.7 million, the equivalent of 3.6 months of imports of goods, and the lowest that our foreign has ever been for a few years.
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Monday 14 April 2008
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Nuku'alofa, Tonga
Economic activity in Tonga is likely to be contracted markedly in 2007, as the Kingdom's economy suffered following a poor agricultural season, the large-scale reduction in civil service workers and the near-destruction of Nuku'alofa's central business district. Reconstruction is taking a long time with only a few projects underway nearly 18 months following the civil disturbance of November 2006.
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