During the 2008/09 financial year, the Government continued to deliver a Budget that focused on further developing the Kingdom’s economic growth using prudent fiscal and appropriate monetary policies. The Kingdom was therefore successfully steered to another year of positive economic growth. However, we’re facing a situation of globally economic downturn which has indirectly impacted our economy. Remittances have declined, thus putting further pressure on growth, and ultimately impacted on Tongan families due to limited income available to cover daily necessities.
Category
Budget Statement
