TONGA KING UPBEAT IN FACE OF ECONOMIC DECLINE

NUKUALOFA, Tonga (Maganti Tonga, Oct. 30) – Tonga’s King Taufa'ahau Tupou IV made the following statement during a speech Oct. 30, on the closing of the Parliament:

"It seems that the state of our economy is starting to look up, the result of efforts that we have made in the past."

The king supported his contention by pointing out that Royal Tongan Airlines was extending its service to the Cook Islands, Hawaii, and Wallis and Futuna, while Tongan agricultural produce was being exported to Korea, and Japan.

Meanwhile, the Tongan pa'anga was continuing its decline, after losing 54 percent against the New Zealand dollar in the last three years; inflation remained at around 12 percent; and the 2003 squash season was predicted return the lowest prices ever.

November 13, 2003

Matangi Tonga: www.matangitonga.to/nav.html

 

Rate this article: 
No votes yet

Add new comment