Tonga: Statistical Annex

International Monetary Fund

doi:10.5089/9781451837414.002.A001

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Tonga

Statistical Annex

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International Monetary Fund

International Monetary Fund
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Publication Date:: 07 Jan 1999

eISBN:: 9781451837414

Language:: English

Keywords:: ISCR; CR; Tonga; net; balance of payments; oil company Ltd; line Ltd; building Ltd

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In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

Abstract

Table 1.

Tonga: Real Sector Developments, 1992/93-1997/98

Source: Tonga Statistics Department.

^{^1/}Fiscal year is July 1-June 30,

Table 1.

Tonga: Real Sector Developments, 1992/93-1997/98

Years ^1/		1992/93	1993/94	1994/95	1995/96	1996/97	1997/98 Est.
Nominal GDP
	In pa’anga inn.	198.6	207.6	214.5	227.9	224.2	233.2
	In USS mn.	145.0	151.8	167.1	175.9	182.9	172.8
	Per capita (USS)	1,467	1,527	1,670	1,747	1,870	1,693
		(Percent change)
GDP (1984/85 prices)		3.7	5.0	4.8	-1.4	4.4	-1.5
	Agriculture, forestry, and fisheries	2.7	-0.3	6.4	-5.4	-3.0	-3.8
	Manufacturing	5.7	-14.9	-11.5	11.9	0.6	-3.0
	Construction	7.0	28.8	28.5	-0.3	-45.6	8.9
	Commerce, restaurants, and hotels	4.8	7.1	-1.6	-4.0	-9.5	1.6
	Transportation and communications	2.0	7.0	7,6	6.1	-1.2	8.1
	Finance and real estate	11.4	4.7	5.4	-5.7	2.8	2.5
		(In percent of total)
GDP by sector
	Agriculture, forestry, and fisheries	32.9	28.7	27.8	28.9	30.4	32.1
	Manufacturing	44	3.9	3.3	3.4	3.5	3.3
	Construction	4.6	5.4	6.9	6.9	4.0	4.5
	Commerce, restaurants, and hotels	12.5	13.2	12.6	13.7	10.9	11.0
	Transportation and communications	6.6	6.8	7.1	7.1	7.0	7.3
	Finance and real estate	6.0	6.S	6.9	6.3	6.7	6.8
GDP by expenditure
	Government final consumption expenditure	17.7	17.8	18.5	…	…	…
	Private final consumption expenditure	51.9	92.7	96.6	…	…	…
	Gross fixed capita] formation	15.8	14.9	13.9	…	…	…
	Change in stocks	23	2.6	-0.2	…	…	…
	Exports of goods and services	19.9	21.6	20.8	…	…	…
	Less: Imports of goods and services	47.5	49.5	49.6	…	…	…
Consumer prices (percent change)
	Period average	3.1	2.4	03	2.8	1.8	…
	End of period	-2.7	4.9	1.3	3.7	1.9	…

Source: Tonga Statistics Department.

^{^1/}Fiscal year is July 1-June 30,

Table 1.

Tonga: Real Sector Developments, 1992/93-1997/98

Years ^1/		1992/93	1993/94	1994/95	1995/96	1996/97	1997/98 Est.
Nominal GDP
	In pa’anga inn.	198.6	207.6	214.5	227.9	224.2	233.2
	In USS mn.	145.0	151.8	167.1	175.9	182.9	172.8
	Per capita (USS)	1,467	1,527	1,670	1,747	1,870	1,693
		(Percent change)
GDP (1984/85 prices)		3.7	5.0	4.8	-1.4	4.4	-1.5
	Agriculture, forestry, and fisheries	2.7	-0.3	6.4	-5.4	-3.0	-3.8
	Manufacturing	5.7	-14.9	-11.5	11.9	0.6	-3.0
	Construction	7.0	28.8	28.5	-0.3	-45.6	8.9
	Commerce, restaurants, and hotels	4.8	7.1	-1.6	-4.0	-9.5	1.6
	Transportation and communications	2.0	7.0	7,6	6.1	-1.2	8.1
	Finance and real estate	11.4	4.7	5.4	-5.7	2.8	2.5
		(In percent of total)
GDP by sector
	Agriculture, forestry, and fisheries	32.9	28.7	27.8	28.9	30.4	32.1
	Manufacturing	44	3.9	3.3	3.4	3.5	3.3
	Construction	4.6	5.4	6.9	6.9	4.0	4.5
	Commerce, restaurants, and hotels	12.5	13.2	12.6	13.7	10.9	11.0
	Transportation and communications	6.6	6.8	7.1	7.1	7.0	7.3
	Finance and real estate	6.0	6.S	6.9	6.3	6.7	6.8
GDP by expenditure
	Government final consumption expenditure	17.7	17.8	18.5	…	…	…
	Private final consumption expenditure	51.9	92.7	96.6	…	…	…
	Gross fixed capita] formation	15.8	14.9	13.9	…	…	…
	Change in stocks	23	2.6	-0.2	…	…	…
	Exports of goods and services	19.9	21.6	20.8	…	…	…
	Less: Imports of goods and services	47.5	49.5	49.6	…	…	…
Consumer prices (percent change)
	Period average	3.1	2.4	03	2.8	1.8	…
	End of period	-2.7	4.9	1.3	3.7	1.9	…

Source: Tonga Statistics Department.

^{^1/}Fiscal year is July 1-June 30,

Table 2.

Tonga: Gross Domestic Product by Sector of Origin 1992/93-1997/98

(1984/85 Prices)

Source: Tonga Statistics Department.

Table 2.

Tonga: Gross Domestic Product by Sector of Origin 1992/93-1997/98

(1984/85 Prices)

Years ending June		1992/93	1993/94	1994/95	1995/96	1996/97	1997/98
			(In millions of pa’anga)
Primary sector
	Agriculture, forestry, and fisheries	30.5	30.4	32.4	30.6	29.7	28.6
Secondary sector		10.3	11.6	13.3	13.7	9,8	10.0
	Mining and quarrying	0.3	0.3	0.6	0.6	0.2	0.2
	Manufacturing	4.1	3.5	3.1	3.4	3.5	3.4
	Electricity and water	1.2	1.8	1.9	2.0	19	1.8
	Construction	4,7	6.0	7.7	7.7	4.2	4.6
Tertiary sector		41.4	43.3	44.0	44.1	43.0	43.7
	Commerce, restaurants, and hotels	11.7	12.5	12.3	11.8	10.7	10.8
	Transportation and communications	6.1	6.5	7.0	7.5	7.4	8.0
	Finance and real estate	5.6	5.8	6.1	5.8	6.0	6.1
	Community and personal services	18.4	18.9	19.4	19.9	20,5	20.6
	Ownership of dwellings	3.2	3.2	3.2	3.2	3.2	3.1
	Less: Imputed bank service charge	3.5	3.7	4.0	4.1	4.7	4.9
Total GDP at factor costs		82.2	85.3	89.7	88.4	82.6	82.3
Net indirect taxes		14.4	16.1	16.5	16.3	17.5	16.3
Total GDP at constant market prices		96.6	101,4	106.2	104.7	100.1	98.6
			(Percent change)
Primary sector
Agriculture, forestry, and fisheries		2.7	-0.3	6.4	-5.4	-3.0	-3.8
Secondary sector		5.8	12.6	15.0	2.9	-28.1	1.8
	Mining and quarrying	4.0	12.5	99.3	-2.4	-57.3	2.1
	Manufacturing	5.7	-14.9	-11.5	11.9	0.6	-3.0
	Electricity and water	2.0	42.0	7.6	3.4	-1.8	-4,9
Construction		7.0	28.8	28.5	-0.3	-45.6	8.9
Tertiary sector		2.1	4.5	1.7	0,1	-2.4	1.6
	Commerce, restaurants, and hotels	4.8	7.1	-1.6	-4,0	-9.5	1.6
	Transportation and communications	2.0	7.0	7.6	6.1	-1,2	8.1
	Finance and real estate	11.4	4.7	5.4	-5.7	2.8	2.5
	Community and personal services	0.3	2.8	2.6	2.5	3.0	0.4
	Ownership of dwellings	0.6	0.3	0.3	0.3	0.4	-2.8
	Less: Imputed bank service charge	13.7	4.7	10.7	0.9	15.2	4.3
Total GDP at factor costs		2.8	3.8	5.2	-1.5	-6.6	-0.3
Net indirect taxes		9.6	11.8	2.7	-1.2	7.4	-7.2
Total GDP at constant market prices		3.7	5.0	4.8	-1.4	-4.4	-1.5
Memorandum items:
	GDP deflator	3.6	-0,4	-1.4	7.8	2.9	56
	GD at current market prices	7.4	4.5	3.3	6.2	-1,6	4.0

Source: Tonga Statistics Department.

Table 2.

Tonga: Gross Domestic Product by Sector of Origin 1992/93-1997/98

(1984/85 Prices)

Years ending June		1992/93	1993/94	1994/95	1995/96	1996/97	1997/98
			(In millions of pa’anga)
Primary sector
	Agriculture, forestry, and fisheries	30.5	30.4	32.4	30.6	29.7	28.6
Secondary sector		10.3	11.6	13.3	13.7	9,8	10.0
	Mining and quarrying	0.3	0.3	0.6	0.6	0.2	0.2
	Manufacturing	4.1	3.5	3.1	3.4	3.5	3.4
	Electricity and water	1.2	1.8	1.9	2.0	19	1.8
	Construction	4,7	6.0	7.7	7.7	4.2	4.6
Tertiary sector		41.4	43.3	44.0	44.1	43.0	43.7
	Commerce, restaurants, and hotels	11.7	12.5	12.3	11.8	10.7	10.8
	Transportation and communications	6.1	6.5	7.0	7.5	7.4	8.0
	Finance and real estate	5.6	5.8	6.1	5.8	6.0	6.1
	Community and personal services	18.4	18.9	19.4	19.9	20,5	20.6
	Ownership of dwellings	3.2	3.2	3.2	3.2	3.2	3.1
	Less: Imputed bank service charge	3.5	3.7	4.0	4.1	4.7	4.9
Total GDP at factor costs		82.2	85.3	89.7	88.4	82.6	82.3
Net indirect taxes		14.4	16.1	16.5	16.3	17.5	16.3
Total GDP at constant market prices		96.6	101,4	106.2	104.7	100.1	98.6
			(Percent change)
Primary sector
Agriculture, forestry, and fisheries		2.7	-0.3	6.4	-5.4	-3.0	-3.8
Secondary sector		5.8	12.6	15.0	2.9	-28.1	1.8
	Mining and quarrying	4.0	12.5	99.3	-2.4	-57.3	2.1
	Manufacturing	5.7	-14.9	-11.5	11.9	0.6	-3.0
	Electricity and water	2.0	42.0	7.6	3.4	-1.8	-4,9
Construction		7.0	28.8	28.5	-0.3	-45.6	8.9
Tertiary sector		2.1	4.5	1.7	0,1	-2.4	1.6
	Commerce, restaurants, and hotels	4.8	7.1	-1.6	-4,0	-9.5	1.6
	Transportation and communications	2.0	7.0	7.6	6.1	-1,2	8.1
	Finance and real estate	11.4	4.7	5.4	-5.7	2.8	2.5
	Community and personal services	0.3	2.8	2.6	2.5	3.0	0.4
	Ownership of dwellings	0.6	0.3	0.3	0.3	0.4	-2.8
	Less: Imputed bank service charge	13.7	4.7	10.7	0.9	15.2	4.3
Total GDP at factor costs		2.8	3.8	5.2	-1.5	-6.6	-0.3
Net indirect taxes		9.6	11.8	2.7	-1.2	7.4	-7.2
Total GDP at constant market prices		3.7	5.0	4.8	-1.4	-4.4	-1.5
Memorandum items:
	GDP deflator	3.6	-0,4	-1.4	7.8	2.9	56
	GD at current market prices	7.4	4.5	3.3	6.2	-1,6	4.0

Source: Tonga Statistics Department.

Table 3.

Tonga: Gross Domestic Product by Sector of Origin, 1992/93-1997/98

(Current Prices)

Source: Tonga Statistics Department

Table 3.

Tonga: Gross Domestic Product by Sector of Origin, 1992/93-1997/98

(Current Prices)

Years ending June			1992/93	1993/94	1994/95	1995/96	1996/97	1997/98
				in millions of pa’anga)
Primary sector
	Agriculture, forestry, and fisheries		65.4	59.7	59.6	65.9	68.2	74.9
Secondary sector			21.2	23.0	26.6	28.8	21.2	22.S
	Mining and quarrying		0.5	0.6	1.2	1.2	0.6	0.7
	Manufacturing		8.7	8.0	7.1	7.9	7.8	7.6
	Electricity and water		2.5	2.1	3.4	4.0	3.7	3.7
	Construction		9.2	11.2	14.9	15,8	9.1	10.5
Tertiary sector			82.7	90.4	92.6	97.0	95.3	98.1
	Commerce, restaurants, and hotels		24.9	27.3	27,0	26.6	24,5	25.6
	Transportation and communications		13.1	14.0	15.1	16.1	15.8	17.1
	Finance and real estate		12.0	14.1	14.9	14.4	15.1	15.9
	Community and personal services		32.1	34.7	36.4	40.6	42.1	42.3
		Government	22.8	25.0	26.4	30.2	31.2	30.9
		Private	9.3	9,7	10.0	10.5	11.0	11.4
	Ownership of dwellings		12	8.3	3.0	8,2	5.3	8.4
	Less: Imputed bank service charge		7.5	8.0	8.8	8.9	10.5	11.2
Total GDP at factor costs			169.3	173.1	178.9	191.7	184.7	195.5
Net indirect taxes			29.4	34.5	35,6	36.1	39.5	37.7
Total GDP at current market prices			198.6	207.6	214.5	227.9	224.2	233.2
			(In percent of total)
Primary sector
	Agriculture, forestry, and fisheries		32.9	28.7	27.8	28.9	30.4	32.1
Secondary sector			10.7	11.1	12.4	12,6	9.4	9.6
	Mining and quarrying		0.3	0.3	0.6	0.5	0.3	0.3
	Manufacturing		4.4	3.9	3.3	3.4	3.5	3.3
	Eteclrioity and water		1.4	1.3	1.6	1.8	1.7	1.6
	Construction		4.6	5.4	6.9	6.9	4.0	4.5
Tertiary sector			41.6	43.5	43.2	42.6	42.5	42.1
	Commerce, restaurants, and hotels		12.5	13.2	12,6	11,7	10.9	11.0
	Transportation and communications		6.6	6.8	7.1	7.1	7.0	7.3
	Finance and real estate		6.0	6.8	6.9	6.3	6.7	6.8
	Community and personal services		16.2	16.7	17.0	17.8	18.8	18.1
		Government	11.5	12.0	123	13.2	13.9	13.3
		Private	4.7	4,7	4.7	4.6	4.9	4.9
	Ownership of dwellings		4.1	4.0	3.7	3.6	3 7	3.6
	Less: Imputed bank service charge		3.S	3.8	4.1	3.9	4.7	4.8
Total GDP at factor costs			85.2	83.4	83.4	84.2	82.4	83.8
Net indirect taxes			14.8	16.6	16.6	15.8	17.6	16.2
Total GDP at current market prices			100.0	100.0	100,0	100.0	100.0	100.0

Source: Tonga Statistics Department

Table 3.

Tonga: Gross Domestic Product by Sector of Origin, 1992/93-1997/98

(Current Prices)

Years ending June			1992/93	1993/94	1994/95	1995/96	1996/97	1997/98
				in millions of pa’anga)
Primary sector
	Agriculture, forestry, and fisheries		65.4	59.7	59.6	65.9	68.2	74.9
Secondary sector			21.2	23.0	26.6	28.8	21.2	22.S
	Mining and quarrying		0.5	0.6	1.2	1.2	0.6	0.7
	Manufacturing		8.7	8.0	7.1	7.9	7.8	7.6
	Electricity and water		2.5	2.1	3.4	4.0	3.7	3.7
	Construction		9.2	11.2	14.9	15,8	9.1	10.5
Tertiary sector			82.7	90.4	92.6	97.0	95.3	98.1
	Commerce, restaurants, and hotels		24.9	27.3	27,0	26.6	24,5	25.6
	Transportation and communications		13.1	14.0	15.1	16.1	15.8	17.1
	Finance and real estate		12.0	14.1	14.9	14.4	15.1	15.9
	Community and personal services		32.1	34.7	36.4	40.6	42.1	42.3
		Government	22.8	25.0	26.4	30.2	31.2	30.9
		Private	9.3	9,7	10.0	10.5	11.0	11.4
	Ownership of dwellings		12	8.3	3.0	8,2	5.3	8.4
	Less: Imputed bank service charge		7.5	8.0	8.8	8.9	10.5	11.2
Total GDP at factor costs			169.3	173.1	178.9	191.7	184.7	195.5
Net indirect taxes			29.4	34.5	35,6	36.1	39.5	37.7
Total GDP at current market prices			198.6	207.6	214.5	227.9	224.2	233.2
			(In percent of total)
Primary sector
	Agriculture, forestry, and fisheries		32.9	28.7	27.8	28.9	30.4	32.1
Secondary sector			10.7	11.1	12.4	12,6	9.4	9.6
	Mining and quarrying		0.3	0.3	0.6	0.5	0.3	0.3
	Manufacturing		4.4	3.9	3.3	3.4	3.5	3.3
	Eteclrioity and water		1.4	1.3	1.6	1.8	1.7	1.6
	Construction		4.6	5.4	6.9	6.9	4.0	4.5
Tertiary sector			41.6	43.5	43.2	42.6	42.5	42.1
	Commerce, restaurants, and hotels		12.5	13.2	12,6	11,7	10.9	11.0
	Transportation and communications		6.6	6.8	7.1	7.1	7.0	7.3
	Finance and real estate		6.0	6.8	6.9	6.3	6.7	6.8
	Community and personal services		16.2	16.7	17.0	17.8	18.8	18.1
		Government	11.5	12.0	123	13.2	13.9	13.3
		Private	4.7	4,7	4.7	4.6	4.9	4.9
	Ownership of dwellings		4.1	4.0	3.7	3.6	3 7	3.6
	Less: Imputed bank service charge		3.S	3.8	4.1	3.9	4.7	4.8
Total GDP at factor costs			85.2	83.4	83.4	84.2	82.4	83.8
Net indirect taxes			14.8	16.6	16.6	15.8	17.6	16.2
Total GDP at current market prices			100.0	100.0	100,0	100.0	100.0	100.0

Source: Tonga Statistics Department

Table 4.

Tonga: Production of Manufactured Goods, 1990-96

Source: Tonga Statistics Department.

Table 4.

Tonga: Production of Manufactured Goods, 1990-96

	1990	1991	1992	1993	1994	1995	1996
	(In millions of pa’anga)
Food, beverages, and tobacco	6,279	7,281	7,499	7,673	7,766	7,647	8,203
Textile and wearing apparel	3,351	3,485	3,124	2.231	806	865	742
Wood products	715	268	1,018	1,562	1,330	1,570	302
Paper products	1,586	1,410	1,395	1.294	859	1.155	1,055
Chemical products	1,347	2,297	4,696	4,674	4,294	4,278	964
Nonmetallic products	693	650	420	633	814	733	715
Fabricated metal products	1,672	1.198	1,793	1,153	649	1,064	889
Other	65	629	161	251	709	387	1,692
All manufactured goods	15,708	17,218	20,106	19,471	17,227	17,699	14,562
(Percent change)	1.7	9.6	16.8	-3.2	-11.5	2.7	-17.7

Source: Tonga Statistics Department.

Table 4.

Tonga: Production of Manufactured Goods, 1990-96

	1990	1991	1992	1993	1994	1995	1996
	(In millions of pa’anga)
Food, beverages, and tobacco	6,279	7,281	7,499	7,673	7,766	7,647	8,203
Textile and wearing apparel	3,351	3,485	3,124	2.231	806	865	742
Wood products	715	268	1,018	1,562	1,330	1,570	302
Paper products	1,586	1,410	1,395	1.294	859	1.155	1,055
Chemical products	1,347	2,297	4,696	4,674	4,294	4,278	964
Nonmetallic products	693	650	420	633	814	733	715
Fabricated metal products	1,672	1.198	1,793	1,153	649	1,064	889
Other	65	629	161	251	709	387	1,692
All manufactured goods	15,708	17,218	20,106	19,471	17,227	17,699	14,562
(Percent change)	1.7	9.6	16.8	-3.2	-11.5	2.7	-17.7

Source: Tonga Statistics Department.

Table 5.

Tonga: Tourism Statistics, 1991/92-199798

Source: Data provided by the Tongan authorities.

^{^1/}Based on surveys by the Tonga Visitors’ Bureau; figures differ from the balance of payments data.

These series relate to calendar years ending in the respective fiscal year (1993/94=1993),

^{^2/}Including passengers and crew members.

^{^3/}Balance of payments data from foreign exchange records.

Table 5.

Tonga: Tourism Statistics, 1991/92-199798

Years ending June		1991/92	1992/93	1993/94	1994/95	1995/96	1996/97	1997/98
Number of arrivals		22,053	23,020	25,523	28,408	29,520	26,642	26,162
(Percent change)		3.7	4.4	10.9	11.3	3.9	-9.7	-1.8
		(In percent of total; unless otherwise specified)
Country of origin
	Australia.	15.0	15.6	14.3	16.3	15.9	18.6	15.3
	New Zealand	28.2	28.9	28.9	30.5	32.6	32.4	28.8
	United States	22.1	22.3	22.3	21.7	20.9	18.4	23.2
	Pacific Islands	8.8	7.6	7.6	7.9	6.9	3.1	3.6
	Other	25.9	26.9	26.9	23.6	23.7	27.6	29.2
Cross receipts (pa’anga million) ^1/		10	11.4	12.5	13.3	13.9	15.9	15.8
Average total expenditure per visitor
(in pa’anga) ^1/		526	592	488	459	501	558	538
Arrivals on cruise ships ^2/		4,524	3,590	10,029	2,113	2,987	1,865	3,187
Memorandum item:
	Tourism receipts (pa’anga million) ^3/	10.1	12.5	12.5	12.6	15.6	15.5	15.8

Source: Data provided by the Tongan authorities.

^{^1/}Based on surveys by the Tonga Visitors’ Bureau; figures differ from the balance of payments data.

These series relate to calendar years ending in the respective fiscal year (1993/94=1993),

^{^2/}Including passengers and crew members.

^{^3/}Balance of payments data from foreign exchange records.

Table 5.

Tonga: Tourism Statistics, 1991/92-199798

Years ending June		1991/92	1992/93	1993/94	1994/95	1995/96	1996/97	1997/98
Number of arrivals		22,053	23,020	25,523	28,408	29,520	26,642	26,162
(Percent change)		3.7	4.4	10.9	11.3	3.9	-9.7	-1.8
		(In percent of total; unless otherwise specified)
Country of origin
	Australia.	15.0	15.6	14.3	16.3	15.9	18.6	15.3
	New Zealand	28.2	28.9	28.9	30.5	32.6	32.4	28.8
	United States	22.1	22.3	22.3	21.7	20.9	18.4	23.2
	Pacific Islands	8.8	7.6	7.6	7.9	6.9	3.1	3.6
	Other	25.9	26.9	26.9	23.6	23.7	27.6	29.2
Cross receipts (pa’anga million) ^1/		10	11.4	12.5	13.3	13.9	15.9	15.8
Average total expenditure per visitor
(in pa’anga) ^1/		526	592	488	459	501	558	538
Arrivals on cruise ships ^2/		4,524	3,590	10,029	2,113	2,987	1,865	3,187
Memorandum item:
	Tourism receipts (pa’anga million) ^3/	10.1	12.5	12.5	12.6	15.6	15.5	15.8

Source: Data provided by the Tongan authorities.

^{^1/}Based on surveys by the Tonga Visitors’ Bureau; figures differ from the balance of payments data.

These series relate to calendar years ending in the respective fiscal year (1993/94=1993),

^{^2/}Including passengers and crew members.

^{^3/}Balance of payments data from foreign exchange records.

Table 6.

Tonga: Consumer Price Index, 1991/92-1 995/96

(Annual average; percent change)

Sources: Tonga Statistics Department, and National Reserve Bank of Tonga (NRBT).

^{^1/}The underlying rate, constructed by the NRBT until 1995/96, comprises 81 percent of headline items. Highly volatile items, such as domestic fruits and vegetables, have been excluded.

^{^2/}First three quarters.

Table 6.

Tonga: Consumer Price Index, 1991/92-1 995/96

(Annual average; percent change)

Years ending June			Weights	1991/92	1992/93	1993/94	1994/95	1995/96	1996/97	1997/98 ^2/
Headline inflation
	Overall index		100.00	8.7	3.1	2.4	0.3	21	1.8	2.2
		Local component	45,81	14.8	2.2	4.1	3.3	1.2	14	5.5
		Imported component	54.19	2.9	4.0	0.6	-2.8	5.0	2.3	-0.7
	Food		43.18	10.3	2.4	-1.6	0.6	5.8	4.6	3.1
	Beverages		5.35	5.3	6.3	1.9	4.1	3.0	2.4	1.6
	Clothing and footwear		4.17	0.8	-2.2	0.2	-5.1	3.7	0.0	-0.6
	Housing		6.37	14.4	6.9	6.6	-2.9	1.7	0.9	1.5
	Household goods		14.22	7.2	3.0	12.5	4.7	0.0	-1.5	1.3
	Transportation		15.52	2.5	4.1	0.0	-1.0	1.0	-3.7	0.9
	Miscellaneous		11.19	7.8	2.5	5.0	-1.8	-2.3	3.1	2.9
Underlying inflation ^1/
	Overall index		80.96	3.4	3.4	2.9	-0.1	2.4	…	…
		Local component	38.20	4.2	4.4	5.3	l.8	2.3	…	…
		Imported component	42.76	3.0	2.9	1.7	-1.2	2.2	…	…
Memorandum items:
	Overall index; end of period
		Headline		10.4	-2.7	4.9	1.3	3.7	1.9	1.5
		Underlying		3,6	2.8	3.2	-1.3	4.7	…	…

Sources: Tonga Statistics Department, and National Reserve Bank of Tonga (NRBT).

^{^1/}The underlying rate, constructed by the NRBT until 1995/96, comprises 81 percent of headline items. Highly volatile items, such as domestic fruits and vegetables, have been excluded.

^{^2/}First three quarters.

Table 6.

Tonga: Consumer Price Index, 1991/92-1 995/96

(Annual average; percent change)

Years ending June			Weights	1991/92	1992/93	1993/94	1994/95	1995/96	1996/97	1997/98 ^2/
Headline inflation
	Overall index		100.00	8.7	3.1	2.4	0.3	21	1.8	2.2
		Local component	45,81	14.8	2.2	4.1	3.3	1.2	14	5.5
		Imported component	54.19	2.9	4.0	0.6	-2.8	5.0	2.3	-0.7
	Food		43.18	10.3	2.4	-1.6	0.6	5.8	4.6	3.1
	Beverages		5.35	5.3	6.3	1.9	4.1	3.0	2.4	1.6
	Clothing and footwear		4.17	0.8	-2.2	0.2	-5.1	3.7	0.0	-0.6
	Housing		6.37	14.4	6.9	6.6	-2.9	1.7	0.9	1.5
	Household goods		14.22	7.2	3.0	12.5	4.7	0.0	-1.5	1.3
	Transportation		15.52	2.5	4.1	0.0	-1.0	1.0	-3.7	0.9
	Miscellaneous		11.19	7.8	2.5	5.0	-1.8	-2.3	3.1	2.9
Underlying inflation ^1/
	Overall index		80.96	3.4	3.4	2.9	-0.1	2.4	…	…
		Local component	38.20	4.2	4.4	5.3	l.8	2.3	…	…
		Imported component	42.76	3.0	2.9	1.7	-1.2	2.2	…	…
Memorandum items:
	Overall index; end of period
		Headline		10.4	-2.7	4.9	1.3	3.7	1.9	1.5
		Underlying		3,6	2.8	3.2	-1.3	4.7	…	…

Sources: Tonga Statistics Department, and National Reserve Bank of Tonga (NRBT).

^{^1/}The underlying rate, constructed by the NRBT until 1995/96, comprises 81 percent of headline items. Highly volatile items, such as domestic fruits and vegetables, have been excluded.

^{^2/}First three quarters.

Table 7.

Tonga: Population and Labor Market, 1991/92-1996/97

(In persons, unless otherwise specified)

Sources: Tonga Statistics Department based on 1993/94 Labor Force Survey and 1996 Population Census.

^1/1996/97 figures are from the 1996 Population Census, Discrepancies with the estimates of earlier years are being resolved.

Table 7.

Tonga: Population and Labor Market, 1991/92-1996/97

(In persons, unless otherwise specified)

Years ending June		1991/92	1992/93	1993/94	1994/95	1995/96	1996/97
Total population		98,170	98,785	99,419	100,061	100,714	97,784
	Male	49,362	49,672	49,985	50,304	50,630	49,615
	Female	48,808	49,113	49,434	49,757	50,084	48,169
Labor force		…	…	36,665	…	…	33,908
	Male	…	…	21,373	…	…	21,695
	Female	…	…	15,292	…	…	12,213
Employed		…	…	32,327	…	…	29,406
	Male	…	…	20,212	…	…	18,402
	Female	…	…	12,115	…	…	11,004
Regularly paid employees		…	…	8,569	…	…	13,318
Fall-timegovernment workers		3,717	3,846	3,846	3,900	4,195	5,209
	(In percent of regularly paid employees)	…	…	44.9	…	…	39.1
Participation rate		…	…	52.2	…	…	…
	Male	…	…	61.8	…	…	…
	Female	…	…	42.9	…	…	…
Unemployment rate		…	…	11.8	…	…	13.3

Sources: Tonga Statistics Department based on 1993/94 Labor Force Survey and 1996 Population Census.

^1/1996/97 figures are from the 1996 Population Census, Discrepancies with the estimates of earlier years are being resolved.

Table 7.

Tonga: Population and Labor Market, 1991/92-1996/97

(In persons, unless otherwise specified)

Years ending June		1991/92	1992/93	1993/94	1994/95	1995/96	1996/97
Total population		98,170	98,785	99,419	100,061	100,714	97,784
	Male	49,362	49,672	49,985	50,304	50,630	49,615
	Female	48,808	49,113	49,434	49,757	50,084	48,169
Labor force		…	…	36,665	…	…	33,908
	Male	…	…	21,373	…	…	21,695
	Female	…	…	15,292	…	…	12,213
Employed		…	…	32,327	…	…	29,406
	Male	…	…	20,212	…	…	18,402
	Female	…	…	12,115	…	…	11,004
Regularly paid employees		…	…	8,569	…	…	13,318
Fall-timegovernment workers		3,717	3,846	3,846	3,900	4,195	5,209
	(In percent of regularly paid employees)	…	…	44.9	…	…	39.1
Participation rate		…	…	52.2	…	…	…
	Male	…	…	61.8	…	…	…
	Female	…	…	42.9	…	…	…
Unemployment rate		…	…	11.8	…	…	13.3

Sources: Tonga Statistics Department based on 1993/94 Labor Force Survey and 1996 Population Census.

^1/1996/97 figures are from the 1996 Population Census, Discrepancies with the estimates of earlier years are being resolved.

Table 8.

Tonga: Government Positions and Salary Scales

Note: Adjustment for Cost of Living Allowance is included Source: ‘Uta’atu and Associates: “Salaries and Benefit”; A survey of the Kingdom of Tonga 1997; Nuku’alofa, Tonga

Table 8.

Tonga: Government Positions and Salary Scales

Government Positions	Grade Level	Min.	Max.	Equivalent private positions
Department Heads	1	-	19,250
	2		16,500
Legal Counsel	7	11,295	12,456	Company Secretary
Assistant Secretary	9	6,983	10,527	Executive Secretary
Principal	5	12,232	15,374	Administration Manager
Educational Officer	9	6,983	10,527	Training Officer
Translator	12	4,019	5,482	Bilingual Secretary
Telephone Operator	14/13	1,980	3,428	Receptionist/Clerk
Senior Accountant	7	10,133	12,456	Senior Accountant
Examiner	9/8/7	5,801	11,295	Credit Controller
Accounting Officer	9	5,801	7,770	Payroll Accountant/Assistant Accountant
Treasury Clerk	12/11	5,273	6,372	Senior Clerk
Computer Assistant	13	2,728	3,311	Data Entry Clerk
Treasury Clerk	12	4,437	5,064	Cashier
Assistant Secretary	9	6,983	10,527	Finance Secretary
Deputy Gov. Supply Officer	6	11,393	13,698	Materials Management Manager
Procurement Officer	11/10	5,158	7,152	Buyer
Customs Officer	14/13	1,980	3,661	Customs Clerk
Supervisor Mechanical	9	7,770	10,527	Service Supervisor
Mechanic	12/10	5,482	7,548	Mechanic
Senior Stock Control Officer	9	6,983	10,527	Distribution Supervisor
Head Storeman	12	4,019	5,482	Warehouse Storeman

Note: Adjustment for Cost of Living Allowance is included Source: ‘Uta’atu and Associates: “Salaries and Benefit”; A survey of the Kingdom of Tonga 1997; Nuku’alofa, Tonga

Table 8.

Tonga: Government Positions and Salary Scales

Government Positions	Grade Level	Min.	Max.	Equivalent private positions
Department Heads	1	-	19,250
	2		16,500
Legal Counsel	7	11,295	12,456	Company Secretary
Assistant Secretary	9	6,983	10,527	Executive Secretary
Principal	5	12,232	15,374	Administration Manager
Educational Officer	9	6,983	10,527	Training Officer
Translator	12	4,019	5,482	Bilingual Secretary
Telephone Operator	14/13	1,980	3,428	Receptionist/Clerk
Senior Accountant	7	10,133	12,456	Senior Accountant
Examiner	9/8/7	5,801	11,295	Credit Controller
Accounting Officer	9	5,801	7,770	Payroll Accountant/Assistant Accountant
Treasury Clerk	12/11	5,273	6,372	Senior Clerk
Computer Assistant	13	2,728	3,311	Data Entry Clerk
Treasury Clerk	12	4,437	5,064	Cashier
Assistant Secretary	9	6,983	10,527	Finance Secretary
Deputy Gov. Supply Officer	6	11,393	13,698	Materials Management Manager
Procurement Officer	11/10	5,158	7,152	Buyer
Customs Officer	14/13	1,980	3,661	Customs Clerk
Supervisor Mechanical	9	7,770	10,527	Service Supervisor
Mechanic	12/10	5,482	7,548	Mechanic
Senior Stock Control Officer	9	6,983	10,527	Distribution Supervisor
Head Storeman	12	4,019	5,482	Warehouse Storeman

Note: Adjustment for Cost of Living Allowance is included Source: ‘Uta’atu and Associates: “Salaries and Benefit”; A survey of the Kingdom of Tonga 1997; Nuku’alofa, Tonga

Table 9.

Tonga: Central Government Operations, 1994/95-1998799

Sources: Tonga Ministry of Finance; and Fund staff estimates.

^{^1/}Data classified according to program budget format,

^{^2/}Budget statement figures have not been adjusted for the estimated implementation rate.

^{^3/}Includes discrepancy.

Table 9.

Tonga: Central Government Operations, 1994/95-1998799

Years ending June			1994/95	1995/96	1996/97 ^1/	1997/98		1998/99
						Budget	Pre ^1/	Budget ^1/
			(in millions of pa’anga)
Revenue			57.0	60.2	58.9	61.0	60.5	61.9
	Tax		39.9	43.1	45.0	44.4	43.7	44.0
	Nontax		17.1	17 1	13.8	16.6	16.8	17.8
Revolving funds and other transfers			2.5	1.8	10.7	5.1	3.2	6.2
Grants			34.5	20.3	21.0	59.9	25.8	45.7
Expenditure and net lending			101.5	80.4	93.2	133.2	99.7	117.9
	Current		49.1	55.6	59.1	58.0	64,6	66,6
	Development ^2/		52.4	24.8	34.1	75.2	35.1	51.3
Overall balance			-7.6	1.9	-2.6	-7.2	-10.2	-4.2
Financing			7.6	-1.9	2.8	7.2	10.2	4.2
	Foreign loans		7.6	0.1	-0.2	2.1	4.5	2,5
		Drawings	103	5.2	3.9	5.3	7.7	5.5
		Repayments	-1.6	-5.0	-4.1	-3.2	-3.2	-3.0
Tonga Trust Fund drawings			1.4	0.3	11	6.2	6.0	1.1
Domestic financing			-1.4	-2.2	1.8	-1.1	-0.3	-13
		Banking system	-0.2	2.2	1.8	0.0	1.7	-13
		Other ^3/	-1.3	-44	0.0	-1.1	-2.0	0.0
			(As percent of GDP)
Revenue			26.6	26.4	26.2	26.1	25.9	25.8
	Tax		18.6	18.9	20.1	19.0	1S.7	18.3
	Nontax		8.0	7.5	6.2	7.1	7.2	7.4
Revolving funds and other transfers			1.1	0.8	4.8	2.2	1.4	2.6
Grants			16.1	85	9.4	25.7	11.1	19.0
Expenditure and net lending			47.4	35.3	41.6	57.1	42,7	49.1
	Current		22.9	24.4	26.4	24.9	27.7	27.7
	Development ^2/		24.5	10.9	15.2	32.2	15.0	21.3
Overall balance			-3.5	0.8	-1.2	-3 1	-4.4	-1.8
Financing
	Foreign loans		3.6	0.0	-0.1	0.9	1.9	1.0
	Tonga Trust Fund drawings		0.7	0.1	0.5	2.6	2.6	13
	Domestic financing		-0.7	-1.0	0.8	-0.5	-0.1	-0.5
		Banking system	-0.1	1.0	0.8	0.0	0.7	-0.5
		Other ^3/	-0.6	-1.9	0.0	-0.5	-0.9	0.0
Memorandum items:
	Current balance		3.7	2.0	-0.1	1.3	-1.8	-2.0
	Overall balance (excluding grants)		-19.6	-8.1	-10.6	-28.8	-13.5	-20.8

Sources: Tonga Ministry of Finance; and Fund staff estimates.

^{^1/}Data classified according to program budget format,

^{^2/}Budget statement figures have not been adjusted for the estimated implementation rate.

^{^3/}Includes discrepancy.

Table 9.

Tonga: Central Government Operations, 1994/95-1998799

Years ending June			1994/95	1995/96	1996/97 ^1/	1997/98		1998/99
						Budget	Pre ^1/	Budget ^1/
			(in millions of pa’anga)
Revenue			57.0	60.2	58.9	61.0	60.5	61.9
	Tax		39.9	43.1	45.0	44.4	43.7	44.0
	Nontax		17.1	17 1	13.8	16.6	16.8	17.8
Revolving funds and other transfers			2.5	1.8	10.7	5.1	3.2	6.2
Grants			34.5	20.3	21.0	59.9	25.8	45.7
Expenditure and net lending			101.5	80.4	93.2	133.2	99.7	117.9
	Current		49.1	55.6	59.1	58.0	64,6	66,6
	Development ^2/		52.4	24.8	34.1	75.2	35.1	51.3
Overall balance			-7.6	1.9	-2.6	-7.2	-10.2	-4.2
Financing			7.6	-1.9	2.8	7.2	10.2	4.2
	Foreign loans		7.6	0.1	-0.2	2.1	4.5	2,5
		Drawings	103	5.2	3.9	5.3	7.7	5.5
		Repayments	-1.6	-5.0	-4.1	-3.2	-3.2	-3.0
Tonga Trust Fund drawings			1.4	0.3	11	6.2	6.0	1.1
Domestic financing			-1.4	-2.2	1.8	-1.1	-0.3	-13
		Banking system	-0.2	2.2	1.8	0.0	1.7	-13
		Other ^3/	-1.3	-44	0.0	-1.1	-2.0	0.0
			(As percent of GDP)
Revenue			26.6	26.4	26.2	26.1	25.9	25.8
	Tax		18.6	18.9	20.1	19.0	1S.7	18.3
	Nontax		8.0	7.5	6.2	7.1	7.2	7.4
Revolving funds and other transfers			1.1	0.8	4.8	2.2	1.4	2.6
Grants			16.1	85	9.4	25.7	11.1	19.0
Expenditure and net lending			47.4	35.3	41.6	57.1	42,7	49.1
	Current		22.9	24.4	26.4	24.9	27.7	27.7
	Development ^2/		24.5	10.9	15.2	32.2	15.0	21.3
Overall balance			-3.5	0.8	-1.2	-3 1	-4.4	-1.8
Financing
	Foreign loans		3.6	0.0	-0.1	0.9	1.9	1.0
	Tonga Trust Fund drawings		0.7	0.1	0.5	2.6	2.6	13
	Domestic financing		-0.7	-1.0	0.8	-0.5	-0.1	-0.5
		Banking system	-0.1	1.0	0.8	0.0	0.7	-0.5
		Other ^3/	-0.6	-1.9	0.0	-0.5	-0.9	0.0
Memorandum items:
	Current balance		3.7	2.0	-0.1	1.3	-1.8	-2.0
	Overall balance (excluding grants)		-19.6	-8.1	-10.6	-28.8	-13.5	-20.8

Sources: Tonga Ministry of Finance; and Fund staff estimates.

^{^1/}Data classified according to program budget format,

^{^2/}Budget statement figures have not been adjusted for the estimated implementation rate.

^{^3/}Includes discrepancy.

Table 10.

Tonga: Central Government Revenues, 1994/95-1998/99

Sources: Tonga Ministry of Finance; and Fund staff estimates.

^{^1/}Income from the post office has been netted against expenditures.

^{^2/}Includes transfers from revolving funds and local community contributions to the development budget.

Table 10.

Tonga: Central Government Revenues, 1994/95-1998/99

Years ending June			1994/95	1995/96	1996/97	1997/98		1998/99
						Budget	Prel	Budget
			(In millions of pa’anga)
Total revenue and transfers			59.4	62.0	69.6	66.1	63.6	68.0
Tax revenue			39.9	43.1	45.0	44.4	43.7	44.0
	Income tax		6.7	9.2	9.9	8.7	9.8	9.0
	Taxes on goods and services		6.4	6.6	6.2	7.3	7.2	7.7
		Sales tax	5.9	6.1	5.9	6.5	6.5	6.7
		License fees	0.6	0.6	0.4	0.8	0.6	1.0
	Taxes on international transactions		26.8	27,3	28,9	28.4	26,7	27.4
		Import duties	14.0	13.7	13.7	14.9	13.3	13,9
		Ports and services tax	12.8	13.6	15.2	13.5	13,5	13.5
Nontax revenue and transfers			19.6	18.9	24.6	21.7	20,0	24.0
	Government services ^1/		13.2	12.7	9.8	12.3	12.2	13.0
	Rentel and investment income		3.9	4.5	4.0	4.2	4.6	4.9
	Other ^2/		2.5	1.8	10.7	5.1	3.2	6.2
			(In percent of total revenue)
Tax revenue			67.1	69.5	64.7	67.2	68.6	64.7
	Income tax		11.2	14.8	14.2	13.1	15.4	13.2
	Taxes on goods and services		10.8	10.7	8.9	11.1	11.3	11.2
		Sales tax	9.9	9.8	8 4	9.9	10.3	9.8
		License fees	1.0	0.9	0.5	1.2	1.0	1.4
	Taxes on international transactions		45.0	44.0	41.6	43.0	42.0	40.3
		Import duties	23.5	22.1	19.6	22.6	20,8	20.4
		Ports and services tax	21.6	21.9	21.9	20,4	21.2	19.8
Nontax revenue and transfers			32.9	30,5	35.3	32. S	31.4	35.3
	Government services ^1/		22.3	20.5	14.1	18.7	19.2	19.0
	Rents and investment income		6.5	7.2	5.8	6.4	7.1	7,2
	Other ^2/		4.1	2.8	15.4	7.7	5.0	9.0
			(In percent of GDP)
Total revenue and transfers			27.7	27.2	31.0	28.3	27.3	28.3
Tax revenue			18.6	18.9	20.1	19.0	18.7	18.3
	Income tax		3.1	4.0	4.4	3.7	4.2	3.7
	Taxes on goods and services		3.0	2.9	2.8	3.1	3.1	3,2
	Taxes on international transactions		12.5	12.0	12.9	12.2	11.5	11.4
Nontax revenue and transfers			9.1	8.3	11.0	9.3	8.6	10.0

Sources: Tonga Ministry of Finance; and Fund staff estimates.

^{^1/}Income from the post office has been netted against expenditures.

^{^2/}Includes transfers from revolving funds and local community contributions to the development budget.

Table 10.

Tonga: Central Government Revenues, 1994/95-1998/99

Years ending June			1994/95	1995/96	1996/97	1997/98		1998/99
						Budget	Prel	Budget
			(In millions of pa’anga)
Total revenue and transfers			59.4	62.0	69.6	66.1	63.6	68.0
Tax revenue			39.9	43.1	45.0	44.4	43.7	44.0
	Income tax		6.7	9.2	9.9	8.7	9.8	9.0
	Taxes on goods and services		6.4	6.6	6.2	7.3	7.2	7.7
		Sales tax	5.9	6.1	5.9	6.5	6.5	6.7
		License fees	0.6	0.6	0.4	0.8	0.6	1.0
	Taxes on international transactions		26.8	27,3	28,9	28.4	26,7	27.4
		Import duties	14.0	13.7	13.7	14.9	13.3	13,9
		Ports and services tax	12.8	13.6	15.2	13.5	13,5	13.5
Nontax revenue and transfers			19.6	18.9	24.6	21.7	20,0	24.0
	Government services ^1/		13.2	12.7	9.8	12.3	12.2	13.0
	Rentel and investment income		3.9	4.5	4.0	4.2	4.6	4.9
	Other ^2/		2.5	1.8	10.7	5.1	3.2	6.2
			(In percent of total revenue)
Tax revenue			67.1	69.5	64.7	67.2	68.6	64.7
	Income tax		11.2	14.8	14.2	13.1	15.4	13.2
	Taxes on goods and services		10.8	10.7	8.9	11.1	11.3	11.2
		Sales tax	9.9	9.8	8 4	9.9	10.3	9.8
		License fees	1.0	0.9	0.5	1.2	1.0	1.4
	Taxes on international transactions		45.0	44.0	41.6	43.0	42.0	40.3
		Import duties	23.5	22.1	19.6	22.6	20,8	20.4
		Ports and services tax	21.6	21.9	21.9	20,4	21.2	19.8
Nontax revenue and transfers			32.9	30,5	35.3	32. S	31.4	35.3
	Government services ^1/		22.3	20.5	14.1	18.7	19.2	19.0
	Rents and investment income		6.5	7.2	5.8	6.4	7.1	7,2
	Other ^2/		4.1	2.8	15.4	7.7	5.0	9.0
			(In percent of GDP)
Total revenue and transfers			27.7	27.2	31.0	28.3	27.3	28.3
Tax revenue			18.6	18.9	20.1	19.0	18.7	18.3
	Income tax		3.1	4.0	4.4	3.7	4.2	3.7
	Taxes on goods and services		3.0	2.9	2.8	3.1	3.1	3,2
	Taxes on international transactions		12.5	12.0	12.9	12.2	11.5	11.4
Nontax revenue and transfers			9.1	8.3	11.0	9.3	8.6	10.0

Sources: Tonga Ministry of Finance; and Fund staff estimates.

^{^1/}Income from the post office has been netted against expenditures.

^{^2/}Includes transfers from revolving funds and local community contributions to the development budget.

Table 11.

Tonga: Central Government Current Expenditures, 1994/95-199S/99

Sources: Tonga Ministry of Finance; and Fund staff estimates.

^{^1/}Excludes amortization on public debt, appropriations to the development budget, and sinking funds, which were included in the Tongan budget presentation.

^{^2/}Excludes government store expenditure.

^{^3/}Information on the shore of defense expenditure is not compiled separately.

Table 11.

Tonga: Central Government Current Expenditures, 1994/95-199S/99

Years ending Juno			1994/95	1995/96	1996/97	1997/98		1998/99
						Budget	Prel	Budget
			(In millions of pa’anga)
Total current expenditures ^1/			49.1	55.6	59.1	58.0	64.6	66.6
Public administration			19.1	21.6	20.6	19.3	19.2	20.3
	General administration		10.7	12.6	10.9	9.6	9.7	10.2
	Fiscal administration ^2/		1.9	2.1	2.5	2.4	2.2	2.6
	Law and order ^3/		6.5	6.9	7.3	7.4	7.2	7.5
Social and community services			18.4	19.1	22.1	22.9	23.0	22.8
	Education		9.9	9.9	12.2	11.8	12.1	11.8
	Health		0.7	7.2	7.7	8.3	8.2	8.3
	Pensions and gratuities		1.4	1.5	1.6	2.3	2.3	2.3
	Other		0.5	0.5	0.5	0.5	0.5	0.5
Economic services			10.4	11.2	12.7	13.5	13.3	13.5
	Agriculture, forestry, and fisheries		3.9	4.3	5.0	5.6	5.5	5,8
	Tourism		0.6	0.7	0.9	0.9	0.9	0.9
	Transportation, communications,
		and public works	0.0	6.3	6.8	0.9	6.9	6.8
Other			1.2	3.7	3.7	4.4	9.1	10.0
			(In percent of GDP)
Total current expenditures ^1/			22.9	24.4	26.4	24.9	27.7	27.7
Public administration			8.9	9.5	8.8	8,3	8.2	8.5
Of which: Law and order ^3/			3.0	3.0	4.7	4.1	4.2	4.2
Social and community services			8.6	8.4	9.5	9.8	95	9.5
Economic services			4.9	4.9	5.7	5.8	5.7	5.6
Other			6.o	1.6	1.0	1.9	3.9	4.2
			(In millions of pa’anga)
Memorandum items:
	Salaries and wages		25.7	28.8	31.1	34.4	35.6	37.2
	Maintenance and operations		4.1	3.9	6.6	6.0	5.1	5.5
			(Percent)
	Purchase of goods and services		7.0	8.6	13.9	21.7	19.2	18.2
	Shares in current expenditure
		Salaries and wages	52.3	51.9	52.6	59.4	55.1	55.8
		Maintenance and operations	8.3	7.0	11.2	10,4	7.8	8.3
		Purchase of goods and services	14.2	15.5	23.6	37.3	29.8	27,3

Sources: Tonga Ministry of Finance; and Fund staff estimates.

^{^1/}Excludes amortization on public debt, appropriations to the development budget, and sinking funds, which were included in the Tongan budget presentation.

^{^2/}Excludes government store expenditure.

^{^3/}Information on the shore of defense expenditure is not compiled separately.

Table 11.

Tonga: Central Government Current Expenditures, 1994/95-199S/99

Years ending Juno			1994/95	1995/96	1996/97	1997/98		1998/99
						Budget	Prel	Budget
			(In millions of pa’anga)
Total current expenditures ^1/			49.1	55.6	59.1	58.0	64.6	66.6
Public administration			19.1	21.6	20.6	19.3	19.2	20.3
	General administration		10.7	12.6	10.9	9.6	9.7	10.2
	Fiscal administration ^2/		1.9	2.1	2.5	2.4	2.2	2.6
	Law and order ^3/		6.5	6.9	7.3	7.4	7.2	7.5
Social and community services			18.4	19.1	22.1	22.9	23.0	22.8
	Education		9.9	9.9	12.2	11.8	12.1	11.8
	Health		0.7	7.2	7.7	8.3	8.2	8.3
	Pensions and gratuities		1.4	1.5	1.6	2.3	2.3	2.3
	Other		0.5	0.5	0.5	0.5	0.5	0.5
Economic services			10.4	11.2	12.7	13.5	13.3	13.5
	Agriculture, forestry, and fisheries		3.9	4.3	5.0	5.6	5.5	5,8
	Tourism		0.6	0.7	0.9	0.9	0.9	0.9
	Transportation, communications,
		and public works	0.0	6.3	6.8	0.9	6.9	6.8
Other			1.2	3.7	3.7	4.4	9.1	10.0
			(In percent of GDP)
Total current expenditures ^1/			22.9	24.4	26.4	24.9	27.7	27.7
Public administration			8.9	9.5	8.8	8,3	8.2	8.5
Of which: Law and order ^3/			3.0	3.0	4.7	4.1	4.2	4.2
Social and community services			8.6	8.4	9.5	9.8	95	9.5
Economic services			4.9	4.9	5.7	5.8	5.7	5.6
Other			6.o	1.6	1.0	1.9	3.9	4.2
			(In millions of pa’anga)
Memorandum items:
	Salaries and wages		25.7	28.8	31.1	34.4	35.6	37.2
	Maintenance and operations		4.1	3.9	6.6	6.0	5.1	5.5
			(Percent)
	Purchase of goods and services		7.0	8.6	13.9	21.7	19.2	18.2
	Shares in current expenditure
		Salaries and wages	52.3	51.9	52.6	59.4	55.1	55.8
		Maintenance and operations	8.3	7.0	11.2	10,4	7.8	8.3
		Purchase of goods and services	14.2	15.5	23.6	37.3	29.8	27,3

Sources: Tonga Ministry of Finance; and Fund staff estimates.

^{^1/}Excludes amortization on public debt, appropriations to the development budget, and sinking funds, which were included in the Tongan budget presentation.

^{^2/}Excludes government store expenditure.

^{^3/}Information on the shore of defense expenditure is not compiled separately.

Table 12.

Tonga: Development Expenditures plus Net Lending by Source of Funding, 1994/95-1998/99

Sources: Tonga Ministry of Finance; and Fund staff estimates.

Table 12.

Tonga: Development Expenditures plus Net Lending by Source of Funding, 1994/95-1998/99

Years ending June		1994/95	1995/96	1996/97	1997/98		1998/99
					Budget	Prel.	Budget
		(In millions of pa’anga)
Total development expenditures		52.4	24.8	34.1	75.2	35.1	51.3
	plus net lending
Domestic Sources		8.8	4.1	12.2	7.0	-1.3	0.1
	Appropriations from revenue	1.9	0.0	-0.3	3.1	-6,2	-4.8
	Bond issues	0.0	0.0	0.0	-1.0	0.0	0.0
	Revolving funds	2.8	2.9	3.3	4.7	2.8	5.7
	Miscellaneous	5.5	0.5	7.4	0.2	0.4	0.4
	Bank financing	-0.2	2.2	1.8	0.0	1.7	-1.3
	(-)Repayments of lending to the government	-1.2	-1.4	0.(1	0.0	0.0	0.0
Foreign sources		42.1	20.4	20.8	62.0	30.3	48.1
	Grants	34.5	20.3	21.0	59.9	25.8	45.7
	Loans	7.6	0.1	-0.2	2.1	4.5	2.5
Tonga Trust Fund drawings		1.4	0.3	1.1	6.2	6.0	3.1
			(In percent of total)
Domestic sources		16.8	16.7	35.7	9.3	-3.8	0.2
	Appropriations from revenue	3.7	0.0	-1.0	4.1	-17.7	-9.3
	Bond issues	0.0	0.0	0.0	-1.3	0.0	0.0
	Revolving funds	5.3	11.6	9.6	6.2	7,9	11.2
	Miscellaneous	10.5	2.0	21.8	0.3	1.1	0.8
	Bank financing	-0.3	8.7	5.3	0.0	4.8	-2.5
(-)Repayments of lending to the government		-2.4	-5.6	0.0	0.0	0.0	0.0
Foreign sources		80.4	82.1	61.0	82.5	86.6	93.9
	Grants	65.8	8L7	61.5	79.7	73.7	89.1
	Loans	14.6	0.4	-0.5	2.8	12.8	4.8
Tonga Trust Fund drawings		2.7	1,3	3.3	8.2	17.2	6.0

Sources: Tonga Ministry of Finance; and Fund staff estimates.

Table 12.

Tonga: Development Expenditures plus Net Lending by Source of Funding, 1994/95-1998/99

Years ending June		1994/95	1995/96	1996/97	1997/98		1998/99
					Budget	Prel.	Budget
		(In millions of pa’anga)
Total development expenditures		52.4	24.8	34.1	75.2	35.1	51.3
	plus net lending
Domestic Sources		8.8	4.1	12.2	7.0	-1.3	0.1
	Appropriations from revenue	1.9	0.0	-0.3	3.1	-6,2	-4.8
	Bond issues	0.0	0.0	0.0	-1.0	0.0	0.0
	Revolving funds	2.8	2.9	3.3	4.7	2.8	5.7
	Miscellaneous	5.5	0.5	7.4	0.2	0.4	0.4
	Bank financing	-0.2	2.2	1.8	0.0	1.7	-1.3
	(-)Repayments of lending to the government	-1.2	-1.4	0.(1	0.0	0.0	0.0
Foreign sources		42.1	20.4	20.8	62.0	30.3	48.1
	Grants	34.5	20.3	21.0	59.9	25.8	45.7
	Loans	7.6	0.1	-0.2	2.1	4.5	2.5
Tonga Trust Fund drawings		1.4	0.3	1.1	6.2	6.0	3.1
			(In percent of total)
Domestic sources		16.8	16.7	35.7	9.3	-3.8	0.2
	Appropriations from revenue	3.7	0.0	-1.0	4.1	-17.7	-9.3
	Bond issues	0.0	0.0	0.0	-1.3	0.0	0.0
	Revolving funds	5.3	11.6	9.6	6.2	7,9	11.2
	Miscellaneous	10.5	2.0	21.8	0.3	1.1	0.8
	Bank financing	-0.3	8.7	5.3	0.0	4.8	-2.5
(-)Repayments of lending to the government		-2.4	-5.6	0.0	0.0	0.0	0.0
Foreign sources		80.4	82.1	61.0	82.5	86.6	93.9
	Grants	65.8	8L7	61.5	79.7	73.7	89.1
	Loans	14.6	0.4	-0.5	2.8	12.8	4.8
Tonga Trust Fund drawings		2.7	1,3	3.3	8.2	17.2	6.0

Sources: Tonga Ministry of Finance; and Fund staff estimates.

Table 13.

Tonga: Tonga Trust Fund, 1992/93-1997/98^1/

Sources: Data provided by the Tongan authorities.

^{^1/}Based on financial year ending March 31.

Table 13.

Tonga: Tonga Trust Fund, 1992/93-1997/98^1/

		1992/93	1993/94	1994/95	1995/96	1996/97	1997/98 Prel.
		(In millions of pa’anga)
Opening balance		32.6	32.6	33.5	31.4	28.9	30.6
Proceed		17	18	1.3	2.2	3.4	4.5
	Local sales	0.2	0.0	0.7	0.0	0.5	0.3
	Overseas sales and interest	1.5	15	0.6	2.2	2.4	2.8
	Tonga Sat					0.5	1.4
Drawdowns		2.2	18	1.1	3.8	1.6	5.2
	Expenditures	2.2	15	0.0	0.0	0.0	0.0
	Advances	0.0	0.0	1.1	3.8	1.6	5.2
Revaluation adjustment		0.5	0.9	-2.4	-0.9	-0.1	0.0
Closing balance		32.6	33.5	31.4	28.9	30.6	29.9
	Invested overseas	28.0	28.5	27.0	26.8	29.4	28.7
	Deposited in Tonga	4.6	4.2	4.4	2.1	1.1	1.2
	Held in Treasury	0.0	0.8	0.0	0.0	0.0	0.0

Sources: Data provided by the Tongan authorities.

^{^1/}Based on financial year ending March 31.

Table 13.

Tonga: Tonga Trust Fund, 1992/93-1997/98^1/

		1992/93	1993/94	1994/95	1995/96	1996/97	1997/98 Prel.
		(In millions of pa’anga)
Opening balance		32.6	32.6	33.5	31.4	28.9	30.6
Proceed		17	18	1.3	2.2	3.4	4.5
	Local sales	0.2	0.0	0.7	0.0	0.5	0.3
	Overseas sales and interest	1.5	15	0.6	2.2	2.4	2.8
	Tonga Sat					0.5	1.4
Drawdowns		2.2	18	1.1	3.8	1.6	5.2
	Expenditures	2.2	15	0.0	0.0	0.0	0.0
	Advances	0.0	0.0	1.1	3.8	1.6	5.2
Revaluation adjustment		0.5	0.9	-2.4	-0.9	-0.1	0.0
Closing balance		32.6	33.5	31.4	28.9	30.6	29.9
	Invested overseas	28.0	28.5	27.0	26.8	29.4	28.7
	Deposited in Tonga	4.6	4.2	4.4	2.1	1.1	1.2
	Held in Treasury	0.0	0.8	0.0	0.0	0.0	0.0

Sources: Data provided by the Tongan authorities.

^{^1/}Based on financial year ending March 31.

Table 14.

Tonga: Public Enterprises

Source: Data provided by the Tongan authorities.

Table 14.

Tonga: Public Enterprises

Public enterprise	Face value stock held by the government (pa’anga)
Air Pacific Ltdyt.	62,174
Pacific Forum Line	775,583
Shipping corporation of Polynesia Ltd.	6,000
Bank of Tonga	1,200,000
Tonga Development Bank	8,666,310
International Finance Corporation	26,356
Royal Tongan Airlines	6,200,000
Tonga Commodities Board	400,100
Sea Star Fishing Ltd.	1,500,000
Leiola Duty Free	600,000
Charily Foundation	9,999
Coconut Oil	99
Export Produce Treatment Services Ltd.	40,000
FRISCO	99
Home Gas	99
International Dateline Hotel	5,999,999
Palm Soap	99
PPEL	99
Royal Beer	250
Pacific Warehouse Ltd.	99
Tonga Investment Ltd	100
Tonga National Shipping Line Ltd,	90
Tonga Ship Building Ltd,	240
Tonga Timber Ltd.	1,619,999
Tonga Oil Company Ltd.	4,999,999
Total	32,107,793

Source: Data provided by the Tongan authorities.

Table 14.

Tonga: Public Enterprises

Public enterprise	Face value stock held by the government (pa’anga)
Air Pacific Ltdyt.	62,174
Pacific Forum Line	775,583
Shipping corporation of Polynesia Ltd.	6,000
Bank of Tonga	1,200,000
Tonga Development Bank	8,666,310
International Finance Corporation	26,356
Royal Tongan Airlines	6,200,000
Tonga Commodities Board	400,100
Sea Star Fishing Ltd.	1,500,000
Leiola Duty Free	600,000
Charily Foundation	9,999
Coconut Oil	99
Export Produce Treatment Services Ltd.	40,000
FRISCO	99
Home Gas	99
International Dateline Hotel	5,999,999
Palm Soap	99
PPEL	99
Royal Beer	250
Pacific Warehouse Ltd.	99
Tonga Investment Ltd	100
Tonga National Shipping Line Ltd,	90
Tonga Ship Building Ltd,	240
Tonga Timber Ltd.	1,619,999
Tonga Oil Company Ltd.	4,999,999
Total	32,107,793

Source: Data provided by the Tongan authorities.

Table 15.

Tonga: National Debt Outstanding, 1992/93-1996/97 ^1/

Source: Data provided by the Tongan authorities.

^{^1/}Component may not add to totals because of rounding.

^{^2/}Comprises government and government-guaranteed debt.

^{^3/}As of March 31,

Table 15.

Tonga: National Debt Outstanding, 1992/93-1996/97 ^1/

Years ending June			1992/93	1993/94	1994/95	1995/96	1996/97
			(In millions of pa’anga; end of period)
Total debt			82.4	83.4	93.0	87.9	85.8
Total domestic debt			14.2	12.6	11.2	11.3	12.0
		Bank loans	6.6	5.8	4.4	0.2	1.6
		Bonds on issue	7.6	6.8	6.8	11.1	10.4
	Total external debt ^2/		68.2	70.8	81.8	76.6	73.8
		Bilateral	23.0	22.1	22.5	17.1	13.5
		Multilateral	37.7	41.3	52.0	52.2	53.8
		Commercial loans	7.5	7.4	7.3	7.4	6.5
			(In millions of U.S. dollars; end of period)
Total debt			58.9	61.0	72.5	70.2	69.8
	Total domestic debt		10.2	9.2	8.8	9.2	9.6
	Total external debt ^2/		48.8	51.7	63.7	61.0	60.2
			(In percent of GDP; end of period)
Total debt			41.5	40,2	43.4	38.6	38.3
	Total domestic debt		7.1	6.1	5.2	5.0	5.4
	Total external debt ^2/		34.3	34.1	38.1	33.6	32.9
Memorandum items:			(In millions of pa’anga; end of period)
	Tonga Trust Fund, closing balance ^3/		32.6	33.5	31.4	28.9	30.6
	NRBT external reserves		49.2	40.9	30.1	29.8	32.9

Source: Data provided by the Tongan authorities.

^{^1/}Component may not add to totals because of rounding.

^{^2/}Comprises government and government-guaranteed debt.

^{^3/}As of March 31,

Table 15.

Tonga: National Debt Outstanding, 1992/93-1996/97 ^1/

Years ending June			1992/93	1993/94	1994/95	1995/96	1996/97
			(In millions of pa’anga; end of period)
Total debt			82.4	83.4	93.0	87.9	85.8
Total domestic debt			14.2	12.6	11.2	11.3	12.0
		Bank loans	6.6	5.8	4.4	0.2	1.6
		Bonds on issue	7.6	6.8	6.8	11.1	10.4
	Total external debt ^2/		68.2	70.8	81.8	76.6	73.8
		Bilateral	23.0	22.1	22.5	17.1	13.5
		Multilateral	37.7	41.3	52.0	52.2	53.8
		Commercial loans	7.5	7.4	7.3	7.4	6.5
			(In millions of U.S. dollars; end of period)
Total debt			58.9	61.0	72.5	70.2	69.8
	Total domestic debt		10.2	9.2	8.8	9.2	9.6
	Total external debt ^2/		48.8	51.7	63.7	61.0	60.2
			(In percent of GDP; end of period)
Total debt			41.5	40,2	43.4	38.6	38.3
	Total domestic debt		7.1	6.1	5.2	5.0	5.4
	Total external debt ^2/		34.3	34.1	38.1	33.6	32.9
Memorandum items:			(In millions of pa’anga; end of period)
	Tonga Trust Fund, closing balance ^3/		32.6	33.5	31.4	28.9	30.6
	NRBT external reserves		49.2	40.9	30.1	29.8	32.9

Source: Data provided by the Tongan authorities.

^{^1/}Component may not add to totals because of rounding.

^{^2/}Comprises government and government-guaranteed debt.

^{^3/}As of March 31,

Table 16.

Tonga: Monetary Survey, 3992/93-1997/98

Source: National Reserve Bank of Tonga.

Table 16.

Tonga: Monetary Survey, 3992/93-1997/98

Years ending June			1992/93	1993/94	1994/95	1995/96	1996/97	1997/98
			(In millions of pa’anga; end of period)
Net foreign assets			45.7	41.2	31.6	29.8	33.0	16.4
	Gross international reserves		49.8	43.1	32.8	30.8	37.8	26.0
	Foreign liabilities		-4.1	-1.9	-1.2	-1.0	-4.9	-9.7
Net domestic assets			5.3	15.4	33.4	36.9	43.2	61.3
	Domestic credit		34.6	37.4	50.4	56.8	66.9	83.4
		Central government (net)	4.2	-1.4	-1.5	0.6	2.4	4.1
		Public enterprises	0.4	0.1	0.1	0.1	0.4	0.6
		Private sector	30.9	38.7	53.5	58.6	65.3	78.9
		Other financial institutions	-0.9	-0.1	-1.7	-2.5	-1.2	-0.2
	Other items (net)		-29.3	-22.0	-17.0	-19.9	-23.7	-22.1
Broad money (M2)			51.0	55.5	65.0	66.8	76.2	77.8
	Narrow money		19.1	19.3	22.8	20.4	20.9	21.3
	Quasi-money		31.9	36.2	42.2	46.3	55.3	56.5
			(Percent change)
Net foreign assets			18.8	-9.7	-23.3	-5.7	10.7	-50.3
Domestic credit			-19.6	8.0	34.8	12.8	17.7	21.4
		Of which: Private sector	-10.8	25.3	38.2	9.5	11.4	20.8
Broad money			4.2	8.8	17.1	2.8	14.1	2.1
			(Percent contribution to change in M2)
Net foreign assets			14.8	-8.7	-17.3	-2.8	4.8	-21.8
Net domestic assets			-10.6	19.6	32.6	54	9.4	23.8
Domestic credit			-17.2	5.4	23.6	9.8	15.1	21.7
		Of which: Private sector	-7.6	15.3	26.7	7.8	2.7	2.2
Other items (net)			6.6	14.2	9.0	-4.5	10.0	17.8
Memorandum items:
	Velocity (GDP/average stock of M2)		40	3.9	3.6	3.5	3.1	3.0
	Nominal GDP (pa’anga inn.)		198.6	207.6	214.5	227.9	224.2	233.2
	Average stock of M2 (pa’anga mn.)		50.0	53.3	60.3	65.9	71.5	77.0

Source: National Reserve Bank of Tonga.

Table 16.

Tonga: Monetary Survey, 3992/93-1997/98

Years ending June			1992/93	1993/94	1994/95	1995/96	1996/97	1997/98
			(In millions of pa’anga; end of period)
Net foreign assets			45.7	41.2	31.6	29.8	33.0	16.4
	Gross international reserves		49.8	43.1	32.8	30.8	37.8	26.0
	Foreign liabilities		-4.1	-1.9	-1.2	-1.0	-4.9	-9.7
Net domestic assets			5.3	15.4	33.4	36.9	43.2	61.3
	Domestic credit		34.6	37.4	50.4	56.8	66.9	83.4
		Central government (net)	4.2	-1.4	-1.5	0.6	2.4	4.1
		Public enterprises	0.4	0.1	0.1	0.1	0.4	0.6
		Private sector	30.9	38.7	53.5	58.6	65.3	78.9
		Other financial institutions	-0.9	-0.1	-1.7	-2.5	-1.2	-0.2
	Other items (net)		-29.3	-22.0	-17.0	-19.9	-23.7	-22.1
Broad money (M2)			51.0	55.5	65.0	66.8	76.2	77.8
	Narrow money		19.1	19.3	22.8	20.4	20.9	21.3
	Quasi-money		31.9	36.2	42.2	46.3	55.3	56.5
			(Percent change)
Net foreign assets			18.8	-9.7	-23.3	-5.7	10.7	-50.3
Domestic credit			-19.6	8.0	34.8	12.8	17.7	21.4
		Of which: Private sector	-10.8	25.3	38.2	9.5	11.4	20.8
Broad money			4.2	8.8	17.1	2.8	14.1	2.1
			(Percent contribution to change in M2)
Net foreign assets			14.8	-8.7	-17.3	-2.8	4.8	-21.8
Net domestic assets			-10.6	19.6	32.6	54	9.4	23.8
Domestic credit			-17.2	5.4	23.6	9.8	15.1	21.7
		Of which: Private sector	-7.6	15.3	26.7	7.8	2.7	2.2
Other items (net)			6.6	14.2	9.0	-4.5	10.0	17.8
Memorandum items:
	Velocity (GDP/average stock of M2)		40	3.9	3.6	3.5	3.1	3.0
	Nominal GDP (pa’anga inn.)		198.6	207.6	214.5	227.9	224.2	233.2
	Average stock of M2 (pa’anga mn.)		50.0	53.3	60.3	65.9	71.5	77.0

Source: National Reserve Bank of Tonga.

Table 17.

Tonga: Banking Survey, 1992/93-1997/98 ^1/

Source: National Reserve Bank of Tonga.

^{^1/}Includes the National Reserve Bank of Tonga, commercial banks, and the Tonga Development Bank.

Table 17.

Tonga: Banking Survey, 1992/93-1997/98 ^1/

Years ending June			1992/93	1993/94	1994/95	1995/96	1996/97	1997/98
			(In millions of pa’anga end of period)
Net foreign assets			40.6	36.5	26.5	25.3	29.0	13.0
	Net international reserves		45.7	41.3	31.6	29.8	33.0	16.4
	Other foreign assets (net)		-5.1	-4.7	-5.1	-4.5	-4.0	-3.4
Net domestic assets			9.2	17.1	33.3	38.6	44.6	62.0
	Domestic credit		66.0	73.5	91.7	99.3	109.0	125.1
		Central government (net)	5.7	-0.6	-0.5	-1.0	0.5	0.1
		Public enterprises	0.4	0.1	3.4	3.4	2.9	1.8
		Private sector	59,8	74.0	88.9	96.9	105.7	123.2
	Other items (net)		-56.7	-56.4	-58.4	-60.7	-64.4	-63.1
Liquid liabilities			49.8	53.6	59.8	63.8	73.6	75.2
	Narrow money		19.1	19.3	22.8	20.4	20.9	21.3
	Quasi-money		31.9	36.2	42.2	46.3	55.3	56.5
	Less: Reserves of TDB		-1.2	-1.9	-5.2	-3.0	-2.6	-2.6
			(Percent change)
Net foreign assets			16,4	-9.9	-27.6	-4.6	14.7	-55.1
Domestic credit			-6.1	11,4	24.8	8.2	9.8	14.7
		Of which: Private sector	1.6	23.6	20.2	9.0	9.1	16.6
Liquid liabilities			12.9	7.7	11.5	6.7	15.4	2.2
			(Percent contribution to change in liquid liabilities)
Net foreign assets			12.95	-8.09	-18.78	-2.02	5.8	-21.7
Net domestic assets			-0.05	15,81	30.23	8.75	9.5	23,6
Domestic credit			-9.68	15.16	33.99	12.64	15.3	21.8
		Of which: Private sector	2.09	28.42	27.80	13.38	13.8	23.8
Other items (net)			9.64	0.64	-3.77	-3.90	-5.7	1.8

Source: National Reserve Bank of Tonga.

^{^1/}Includes the National Reserve Bank of Tonga, commercial banks, and the Tonga Development Bank.

Table 17.

Tonga: Banking Survey, 1992/93-1997/98 ^1/

Years ending June			1992/93	1993/94	1994/95	1995/96	1996/97	1997/98
			(In millions of pa’anga end of period)
Net foreign assets			40.6	36.5	26.5	25.3	29.0	13.0
	Net international reserves		45.7	41.3	31.6	29.8	33.0	16.4
	Other foreign assets (net)		-5.1	-4.7	-5.1	-4.5	-4.0	-3.4
Net domestic assets			9.2	17.1	33.3	38.6	44.6	62.0
	Domestic credit		66.0	73.5	91.7	99.3	109.0	125.1
		Central government (net)	5.7	-0.6	-0.5	-1.0	0.5	0.1
		Public enterprises	0.4	0.1	3.4	3.4	2.9	1.8
		Private sector	59,8	74.0	88.9	96.9	105.7	123.2
	Other items (net)		-56.7	-56.4	-58.4	-60.7	-64.4	-63.1
Liquid liabilities			49.8	53.6	59.8	63.8	73.6	75.2
	Narrow money		19.1	19.3	22.8	20.4	20.9	21.3
	Quasi-money		31.9	36.2	42.2	46.3	55.3	56.5
	Less: Reserves of TDB		-1.2	-1.9	-5.2	-3.0	-2.6	-2.6
			(Percent change)
Net foreign assets			16,4	-9.9	-27.6	-4.6	14.7	-55.1
Domestic credit			-6.1	11,4	24.8	8.2	9.8	14.7
		Of which: Private sector	1.6	23.6	20.2	9.0	9.1	16.6
Liquid liabilities			12.9	7.7	11.5	6.7	15.4	2.2
			(Percent contribution to change in liquid liabilities)
Net foreign assets			12.95	-8.09	-18.78	-2.02	5.8	-21.7
Net domestic assets			-0.05	15,81	30.23	8.75	9.5	23,6
Domestic credit			-9.68	15.16	33.99	12.64	15.3	21.8
		Of which: Private sector	2.09	28.42	27.80	13.38	13.8	23.8
Other items (net)			9.64	0.64	-3.77	-3.90	-5.7	1.8

Source: National Reserve Bank of Tonga.

^{^1/}Includes the National Reserve Bank of Tonga, commercial banks, and the Tonga Development Bank.

Table 18.

Tonga: Accounts of the National Reserve Bank of Tonga, 1992/93-1997/98

(In millions of pa’anga; end of period)

Source: National Reserve Bank of Tonga.

^{^1/}In April 1993, NRBT notes were issued to replace term deposits of commercial banks,

^{^2/}Defined as money supply divided by reserve money.

Table 18.

Tonga: Accounts of the National Reserve Bank of Tonga, 1992/93-1997/98

(In millions of pa’anga; end of period)

Years ending June			1992/93	1993/94	1994/95	1995/96	1996/97	1997/98
Net foreign assets			48.4	40,0	29.6	29.6	32.6	20.9
	Foreign assets		49.2	40.9	30.1	29.8	32.8	21.3
	Foreign liabilities		-0.8	-0.9	-0.5	-0.2	-0.2	-0.4
Net domestic assets			14.6	20.5	23.1	17.8	17.6	16.9
	Net domestic credit		11.2	11.0	9.9	5.5	5.4	5.4
		Claims on central government	11.2	11.0	7.9	5.5	5.4	5.4
		Claims on financial institutions	0.0	0.0	2.0	0.0	0.0	0,0
	Other items, net		3.4	9.5	13.2	12.3	12.1	11.5
Total assets = Total liabilities plus capital			63,0	60.5	52.6	47.4	50.2	37.8
Reserve money			12.2	15.0	15,9	21.4	20.8	1.9.8
	Currency issued		6.9	8.4	9,1	8.2	8.2	8.2
	Banks’ deposits at NRBT		5.3	6.6	6.8	13.3	12.6	11.6
		Of which: Required reserves	2.9	3.4	3.’)	7.9	8.6	9.1
NRBT notes ^1/			43.0	39.0	3 1.5	21.6	26.6	13.5
Central government deposits			5.2	3.7	2,3	1.3	0.4	2.8
Capital and reserves			2.7	2.8	2.9	3.0	2.5	1.7
Memorandum items;
	Money multipliers ^2/
		Narrow money	1.6	1.3	1.4	1.0	1.0	1.1
		Broad money	4.2	3.7	4.1	3.1	3.7	3.9

Source: National Reserve Bank of Tonga.

^{^1/}In April 1993, NRBT notes were issued to replace term deposits of commercial banks,

^{^2/}Defined as money supply divided by reserve money.

Table 18.

Tonga: Accounts of the National Reserve Bank of Tonga, 1992/93-1997/98

(In millions of pa’anga; end of period)

Years ending June			1992/93	1993/94	1994/95	1995/96	1996/97	1997/98
Net foreign assets			48.4	40,0	29.6	29.6	32.6	20.9
	Foreign assets		49.2	40.9	30.1	29.8	32.8	21.3
	Foreign liabilities		-0.8	-0.9	-0.5	-0.2	-0.2	-0.4
Net domestic assets			14.6	20.5	23.1	17.8	17.6	16.9
	Net domestic credit		11.2	11.0	9.9	5.5	5.4	5.4
		Claims on central government	11.2	11.0	7.9	5.5	5.4	5.4
		Claims on financial institutions	0.0	0.0	2.0	0.0	0.0	0,0
	Other items, net		3.4	9.5	13.2	12.3	12.1	11.5
Total assets = Total liabilities plus capital			63,0	60.5	52.6	47.4	50.2	37.8
Reserve money			12.2	15.0	15,9	21.4	20.8	1.9.8
	Currency issued		6.9	8.4	9,1	8.2	8.2	8.2
	Banks’ deposits at NRBT		5.3	6.6	6.8	13.3	12.6	11.6
		Of which: Required reserves	2.9	3.4	3.’)	7.9	8.6	9.1
NRBT notes ^1/			43.0	39.0	3 1.5	21.6	26.6	13.5
Central government deposits			5.2	3.7	2,3	1.3	0.4	2.8
Capital and reserves			2.7	2.8	2.9	3.0	2.5	1.7
Memorandum items;
	Money multipliers ^2/
		Narrow money	1.6	1.3	1.4	1.0	1.0	1.1
		Broad money	4.2	3.7	4.1	3.1	3.7	3.9

Source: National Reserve Bank of Tonga.

^{^1/}In April 1993, NRBT notes were issued to replace term deposits of commercial banks,

^{^2/}Defined as money supply divided by reserve money.

Table 19.

Tonga: Consolidated Accounts of Deposit Money Banks 1992/93-1997/98

(In millions of pa’anga; end of period)

Source: National Reserve Bank of Tonga.

Table 19.

Tonga: Consolidated Accounts of Deposit Money Banks 1992/93-1997/98

(In millions of pa’anga; end of period)

Years ending June			1992/93	1993/94	1994/95	1995/96	1996/97	1997/98
Net foreign assets			-2.7	1.2	2.0	0.2	0.4	-4.6
	Foreign assets		0.6	2.2	2.8	1.0	5.0	4.7
	Foreign liabilities		-3.4	-3.0	-0.8	-0.8	-4.7	-9.3
Net domestic assets			82.5	94.6	106.8	109.6	119.5	123.4
	Banks’ reserves		48.9	46.1	38,7	34.5	39.3	26.5
		Cash in vault	0.8	1.6	1.7	1.3	1.9	2.1
		Deposits at NRBT	5.3	6.6	6.8	13.3	12.6	11.6
		NRBT notes	42,7	37.8	30.2	20.0	24.8	12.8
Net domestic credit			38.4	46.8	62.7	69.3	77.7	92.7
	Claims on central government		6.7	6.1	6.7	9.1	10.2	10,5
	Claims on public enterprises		0,1	0.1	0.1	0,1	0.4	0.6
	Claims on private sector		30.9	38.7	53.5	58.6	65.3	78.9
	Claims on nonmonetary
		financial institutions	0.4	1.9	2.5	16	1.8	2.7
Other items, net			-4.7	1.8	5.4	5.7	2.6	4.2
Total assets = Total liabilities plus capital			79.8	95.9	108.8	109.7	119.8	118.8
Government deposits			13.2	19.0	16.0	14,7	14.0	12.4
	Demand deposits		3.5	7.9	3.8	3.9	4.3	2.5
	Time deposits		5.1	6.9	10.0	8.7	8.5	8.7
	Tonga Trust Fund		4.6	4.2	2.2	2.1	1.1	1.2
Nongovernment deposits			43.2	49.6	60,8	62.8	72.9	74.7
	Demand deposits		13.4	12.6	17.3	14.8	20.4	19.2
	Savings deposits		15.6	20.4	20.6	20.8	20.8	22.3
	Time deposits		14.2	16.6	22.9	27.1	31.7	33.2
	Capital and reserves		23.4	27.3	31.9	32.3	33.0	32.0

Source: National Reserve Bank of Tonga.

Table 19.

Tonga: Consolidated Accounts of Deposit Money Banks 1992/93-1997/98

(In millions of pa’anga; end of period)

Years ending June			1992/93	1993/94	1994/95	1995/96	1996/97	1997/98
Net foreign assets			-2.7	1.2	2.0	0.2	0.4	-4.6
	Foreign assets		0.6	2.2	2.8	1.0	5.0	4.7
	Foreign liabilities		-3.4	-3.0	-0.8	-0.8	-4.7	-9.3
Net domestic assets			82.5	94.6	106.8	109.6	119.5	123.4
	Banks’ reserves		48.9	46.1	38,7	34.5	39.3	26.5
		Cash in vault	0.8	1.6	1.7	1.3	1.9	2.1
		Deposits at NRBT	5.3	6.6	6.8	13.3	12.6	11.6
		NRBT notes	42,7	37.8	30.2	20.0	24.8	12.8
Net domestic credit			38.4	46.8	62.7	69.3	77.7	92.7
	Claims on central government		6.7	6.1	6.7	9.1	10.2	10,5
	Claims on public enterprises		0,1	0.1	0.1	0,1	0.4	0.6
	Claims on private sector		30.9	38.7	53.5	58.6	65.3	78.9
	Claims on nonmonetary
		financial institutions	0.4	1.9	2.5	16	1.8	2.7
Other items, net			-4.7	1.8	5.4	5.7	2.6	4.2
Total assets = Total liabilities plus capital			79.8	95.9	108.8	109.7	119.8	118.8
Government deposits			13.2	19.0	16.0	14,7	14.0	12.4
	Demand deposits		3.5	7.9	3.8	3.9	4.3	2.5
	Time deposits		5.1	6.9	10.0	8.7	8.5	8.7
	Tonga Trust Fund		4.6	4.2	2.2	2.1	1.1	1.2
Nongovernment deposits			43.2	49.6	60,8	62.8	72.9	74.7
	Demand deposits		13.4	12.6	17.3	14.8	20.4	19.2
	Savings deposits		15.6	20.4	20.6	20.8	20.8	22.3
	Time deposits		14.2	16.6	22.9	27.1	31.7	33.2
	Capital and reserves		23.4	27.3	31.9	32.3	33.0	32.0

Source: National Reserve Bank of Tonga.

Table 20.

Tonga: Bank Credit by Sector, 1992/93-1997/98

Source: National Reserve Bank of Tonga.

^{^1/}Excludes holdings of government securities.

Table 20.

Tonga: Bank Credit by Sector, 1992/93-1997/98

Year Ending June			1992/93	1993/94	1994/95	1995/96	1996/97	1997/98
Commercial banks			(In millions of pa’anga; end of period)
Central government ^1/			0.1	0.1	0.0	0.0	1.5	2.6
	Public enterprises		0.4	0.1	0.1	0.1	0.4	0.6
	Private sector		30.9	38.3	53.4	59.3	66.2	78.7
		Agriculture	3.1	3.3	4.4	4.7	3.6	2.5
		Industry and trade	9.4	12.2	18.2	20.4	19.1	28.5
		Housing	14.3	15.8	19.8	211	27.3	32.0
		Personal	3.9	6.5	10.7	12.8	16.0	15.7
		Other	0.3	0.6	0.3	0.4	0.3	n.a.
Total			31.4	38.5	53.6	59.4	68.1	81.9
			(Percent change)
Private sector			-6.7	24.0	393	11.1	11.5	18.9
		Agriculture	-19.5	6.1	34.0	6.9	-24.0	-30.2
		Industry and trade	-7.8	29,4	50.0	12.0	-6.4	49,3
		Housing	-2.5	10.6	25.1	6.5	29.5	17,3
		Personal	-5.6	68.9	63.8	19.9	24.8	-1.7
		Other	-23.5	115.4	-44.6	15.8	-27.6	-100.0
Tonga Development Bank			(In millions of pa’anga; end of period)
Central government			0.9	0.8	2.0	2.0	1.7	1.7
Public enterprises			0.6	0.0	3.3	3.3	2.5	1.2
Private sector			28.8	35.1	35.3	38.2	40.3	44.0
		Agriculture	11.0	16.7	17.5	18.8	17,8	18,9
		Industry and trade	17.5	18.4	15.6	15.3	16.9	17.2
Total			30.3	35.9	40.5	43.6	44.4	46.9
			(Percent change)
Private sector			22.4	21.9	0.6	8.2	5.5	9.2
		Agriculture	33.3	39.3	4.7	7.2	-5.0	5.9
		Industry and trade	15.9	4.9	-14.9	-1.7	9.9	2.2

Source: National Reserve Bank of Tonga.

^{^1/}Excludes holdings of government securities.

Table 20.

Tonga: Bank Credit by Sector, 1992/93-1997/98

Year Ending June			1992/93	1993/94	1994/95	1995/96	1996/97	1997/98
Commercial banks			(In millions of pa’anga; end of period)
Central government ^1/			0.1	0.1	0.0	0.0	1.5	2.6
	Public enterprises		0.4	0.1	0.1	0.1	0.4	0.6
	Private sector		30.9	38.3	53.4	59.3	66.2	78.7
		Agriculture	3.1	3.3	4.4	4.7	3.6	2.5
		Industry and trade	9.4	12.2	18.2	20.4	19.1	28.5
		Housing	14.3	15.8	19.8	211	27.3	32.0
		Personal	3.9	6.5	10.7	12.8	16.0	15.7
		Other	0.3	0.6	0.3	0.4	0.3	n.a.
Total			31.4	38.5	53.6	59.4	68.1	81.9
			(Percent change)
Private sector			-6.7	24.0	393	11.1	11.5	18.9
		Agriculture	-19.5	6.1	34.0	6.9	-24.0	-30.2
		Industry and trade	-7.8	29,4	50.0	12.0	-6.4	49,3
		Housing	-2.5	10.6	25.1	6.5	29.5	17,3
		Personal	-5.6	68.9	63.8	19.9	24.8	-1.7
		Other	-23.5	115.4	-44.6	15.8	-27.6	-100.0
Tonga Development Bank			(In millions of pa’anga; end of period)
Central government			0.9	0.8	2.0	2.0	1.7	1.7
Public enterprises			0.6	0.0	3.3	3.3	2.5	1.2
Private sector			28.8	35.1	35.3	38.2	40.3	44.0
		Agriculture	11.0	16.7	17.5	18.8	17,8	18,9
		Industry and trade	17.5	18.4	15.6	15.3	16.9	17.2
Total			30.3	35.9	40.5	43.6	44.4	46.9
			(Percent change)
Private sector			22.4	21.9	0.6	8.2	5.5	9.2
		Agriculture	33.3	39.3	4.7	7.2	-5.0	5.9
		Industry and trade	15.9	4.9	-14.9	-1.7	9.9	2.2

Source: National Reserve Bank of Tonga.

^{^1/}Excludes holdings of government securities.

Table 21.

Tonga: Accounts of the Tonga Development Bank, 1992/93-1997/98

(In millions of pa’anga, end of period)

Source: Tonga Development Bank.

^{^1/}Direct borrowing by the Tonga Development Bank from foreign sources. The exchange risk is assumed by the government.

^{^2/}Borrowing by tire Government from foreign sources for on-lending to the Tonga Development Bank. The exchange risk is carried by the government.

Table 21.

Tonga: Accounts of the Tonga Development Bank, 1992/93-1997/98

(In millions of pa’anga, end of period)

Years ending June			1992/93	1993/94	1994/95	1995/96	1996/97	1997/98
Reserves			1.2	1.9	5.2	3.0	2.6	2.6
Net domestic assets			34.1	39.8	43.6	47.4	49.6	52.1
	Domestic credit		30.3	35.9	40.5	43.5	44.4	46.9
		Claims on central government	0,9	0.8	2.0	2.0	1.7	1.7
		Claims on public enterprises	0.6	0.0	3.3	3.3	2.5	1.2
		Claims on private sector	28,8	35.1	35.3	38.2	40.3	44.0
	Other items, net		3.8	3.9	3.0	3.9	5.2	5.2
Total assets = Total liabilities plus capital			35.3	41.7	48.8	50.3	52.2	54.7
Long-term foreign liabilities ^1/			5.1	4.7	5.1	4.5	4.0	3.4
Government-lending funds ^2/			14.3	16.0	16.0	17.5	17.8	17.4
TDB bonds and notes			0.0	3.6	8.2	7.7	8.1	9.9
Borrowing from Bank of Tonga			0.0	0.0	0.0	0.0	0.0	0.0
Borrowing from NRBT			0.0	0.0	0.0	0.0	0.0	0.0
Capital and reserves			15.9	17.4	19.4	20.7	22.1	23.2

Source: Tonga Development Bank.

^{^1/}Direct borrowing by the Tonga Development Bank from foreign sources. The exchange risk is assumed by the government.

^{^2/}Borrowing by tire Government from foreign sources for on-lending to the Tonga Development Bank. The exchange risk is carried by the government.

Table 21.

Tonga: Accounts of the Tonga Development Bank, 1992/93-1997/98

(In millions of pa’anga, end of period)

Years ending June			1992/93	1993/94	1994/95	1995/96	1996/97	1997/98
Reserves			1.2	1.9	5.2	3.0	2.6	2.6
Net domestic assets			34.1	39.8	43.6	47.4	49.6	52.1
	Domestic credit		30.3	35.9	40.5	43.5	44.4	46.9
		Claims on central government	0,9	0.8	2.0	2.0	1.7	1.7
		Claims on public enterprises	0.6	0.0	3.3	3.3	2.5	1.2
		Claims on private sector	28,8	35.1	35.3	38.2	40.3	44.0
	Other items, net		3.8	3.9	3.0	3.9	5.2	5.2
Total assets = Total liabilities plus capital			35.3	41.7	48.8	50.3	52.2	54.7
Long-term foreign liabilities ^1/			5.1	4.7	5.1	4.5	4.0	3.4
Government-lending funds ^2/			14.3	16.0	16.0	17.5	17.8	17.4
TDB bonds and notes			0.0	3.6	8.2	7.7	8.1	9.9
Borrowing from Bank of Tonga			0.0	0.0	0.0	0.0	0.0	0.0
Borrowing from NRBT			0.0	0.0	0.0	0.0	0.0	0.0
Capital and reserves			15.9	17.4	19.4	20.7	22.1	23.2

Source: Tonga Development Bank.

^{^1/}Direct borrowing by the Tonga Development Bank from foreign sources. The exchange risk is assumed by the government.

^{^2/}Borrowing by tire Government from foreign sources for on-lending to the Tonga Development Bank. The exchange risk is carried by the government.

Table 22.

Tonga: Interest Rate Structure, 1992/93-1997/98

(In percent per annum; end of period)

Sources: Data provided by the Tongan authorities; and Fund staff estimates.

^{^1/}Minimum lending rate was raised to 5,4 percent in June 1995, to 7 percent in December 1995, and to 9 percent in September 1998.

^{^2/}The NRBT notes were introduced in April 1993. Prior to that, the NRBT had long-term deposits from the BOT.

^{^3/}Prior to September 1992, for deposits greater than T$ 100,000, After September 1992, interest rates arc set on customer basis.

^{^4/}Base rate is the lowest rate charged. Prior to December 1992, it was the preferential rate.

^{^5/}For loans to export-oriented industries, manufacturing and raw materials processing, and tourism activities except restaurants.

^{^6/}Loans less than T$1,000 for activity in agriculture, fisheries, and livestock.

^{^7/}Average rate for saving and time deposits minus average CPI.

^{^8/}Difference between 3-month deposit rate in Tonga and rate on 3-month Australian treasury bills.

^{^9/}Based on lending rate for personal homes and average rate on saving and deposit rate,

^{^10/}Statutory reserve requirements (introduced March 1993) were 5 percept and raised to 10 percent in December 1995, and to 12 percent in September 1998. They are not remunerated.

Table 22.

Tonga: Interest Rate Structure, 1992/93-1997/98

(In percent per annum; end of period)

Years ending June			1992/93	1993/94	1994/95	1995/96	1996/97	1997/98
								March
National Reserve Rank of Tonga
	Minimum lending rate ^1/		5.25	5.25	5.40	7.00	7.00	7.00
	Reserve Bank notes (3 months) ^2/		4.50	2.80	3.30	5.SO	5.50	5.50
	Reserve Bank notes (1 month) ^2/			1.30	1.30	3.50	3.50	3.50
Commercial bank deposits
	Saving deposits		4.00	4.25	4.25	4,25	4.21	5.08
	Time deposits ^3/
		3months	4.25	4.58	4.58	5,00	4.83	5.25
		6 months	4.25	4.75	4.75	5.58	5.42	5.50
		12 months	5.00	5.42	5.42	6.25	6.00	6.08
		24 months	6.00	6.25	6.25	6.75	6.50	6.58
		36 months	6.25	6.63	6.63	7.25	7.00	7.00
		48 months	6.50	6.63	6.63	7.50	7.33	7.33
Average rate on all savings
		and time deposits	4.44	4.78	4.78	5.11	5.11	5.08
	Commercial bank loans
	Base rate ^4/		9.00	9.00	9.00	9.00	9.00	9.00
	Personal homes		9.50	10.00	10.00	10.00	10.00	10.00
Tonga Development Bank loans
	Small-scale subsistence ^5/		9.50	9.50	9.50	9.50	9,50	9.50
	High priority loans ^6/		11.50	11,00	11.00	12.00	12.00	12.00
	Maximum rate		12.50	12.00	12.00	12.00	12.00	12.00
Memorandum items:
	Real interest rate ^7/		1.38	2.41	4.44	2.27	2.27	3.26
	Nominal interest rate differential ^8/		-0.83	-0.38	-3.07	-2.40	-2.55	-0.20
	Spread lending and deposit rate ^9/		5.06	5.22	5.22	4.89	4.89	4.92
	Reserve requirement ^10/		5.00	5.00	5.00	10.00	10.00	10.00