## Tonga: 2015 Article IV Consultation-Staff Report; and Press Release

_IMF Staff Country Reports, April 30, 2015_

## Source details

**Canonical URL:** [Tonga: 2015 Article IV Consultation-Staff Report; and Press Release](https://www.imf.org/en/publications/cr/issues/2016/12/31/tonga-2015-article-iv-consultation-staff-report-and-press-release-42878)

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## Bibliographic details
- Published: April 30, 2015
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475518375.002

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### Economic performance FY2013/14
- Tonga’s economy is estimated to have grown by about 2 percent in FY2013/14 (year ending June), driven by agriculture and construction.
- The economy contracted in 2012/13 mainly caused by the completion of a large capital project.

### External position and reserves
- The external position has strengthened following large grants and remittance inflows, which have bolstered international reserves.

### Outlook FY2014/15–FY2019/20
- Real GDP growth is expected to average 2–3 percent in FY2014/15–FY2019/20.
- Although progress of reconstruction after 2014 Cyclone Ian is slower than expected, the coronation scheduled for July 2015 and preparations for the 2019 South Pacific Games will support economic activity over the next few years.

### Policy-relevant subjects covered
- External debt
- Fiscal policy
- Fiscal stance
- Inflation
- Public debt
- Public financial management (PFM)
- Revenue administration

### Key publication metadata (selected)
- Pages: 69
- Volume: 2015
- Issue: 107
- Series: Country Report No. 2015/107
- ISBN: 9781475518375
- ISSN: 1934-7685
- DOI: https://doi.org/10.5089/9781475518375.002

*International Monetary Fund. Tonga: 2015 Article IV Consultation-Staff Report; and Press Release (IMF Staff Country Reports 2015, 107).*

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/tonga-2015-article-iv-consultation-staff-report-and-press-release-42878_