Tonga : 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Tonga

Author/Editor:

International Monetary Fund. Asia and Pacific Dept

Publication Date:

June 21, 2016

Electronic Access:

Free Full Text. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This paper discusses recent economic developments, economic outlook, risks, and challenges in Tonga. The Tongan economy has been rebounding since a contraction in FY2013. Growth accelerated from 2.1 percent in FY2014 to 3.7 percent in FY2015, supported by construction, tourism, strong remittances, and strong private credit, notwithstanding weather-related disruptions to agricultural production. The FY2016 real GDP growth is projected to remain relatively strong at 3.1 percent, driven by a recovery in agriculture and an increase in construction activity in preparation for the South Pacific Games. However, a protracted period of slower growth in advanced and emerging market economies, particularly in Australia and New Zealand, could weigh on Tonga via aid, remittances, and tourism channels.

Series:

Country Report No. 16/178

Subject:

English

Publication Date:

June 21, 2016

ISBN/ISSN:

9781498311816/1934-7685

Stock No:

1TONEA2016001

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

66

Please address any questions about this title to publications@imf.org