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Tonga: Economic Survey 2009

De Fontenay, Patrick; Utoikamanu, Siosiua T.T.


The Tongan economy was well on its way to recovery from the effects of the riots and the oversized rise in public sector salaries of 2005 when it was hit by three new shocks: an inflation surge in 2007-08 due to price rises for imported food and fuels; the bursting of a bank credit 'bubble'; and the global financial crisis. Nevertheless, GDP growth has remained positive, as the subsistence sector is sheltered, and foreign financial assistance has supported construction activity and permitted an...[Show more]

CollectionsANU Crawford School of Public Policy
ANU Research Publications
Date published: 2009
Type: Journal article
Source: Pacific Economic Bulletin


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