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Tonga’s economy for 2017/2018 predicted to increase to 4.8 percent.

Radio & Television Tonga News 02/08/2017

 

 

Tonga’s economy for 2017/2018 will increase by point one of a percent (.1%) compared to the previous projection provided in August last year.

 

Information from the National Reserve Bank of Tonga says the original prediction was 4.7 percent but the current forecast is a slight rise to 4.8% percent.

 

The increase is supported by growth in construction in particular the lined up constructions of the Sporting facilities.

 

Other sectors that contributes to the economic growth includes transport, communication, trade, fisheries, tourism and other financial activities.

 

Prices of goods will continue to increase due to the duty fees imposed since July 2016.

 

The Government’s foreign reserve is currently at TOP$377.7 million equivalent to 7 months worth of imports.

 

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