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At a Glance Report: September 2011

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The Ministry of Finance and National Planning has released its latest publications on the Government of Tonga's Monthly At a Glance Report for the Month of September 2011.

According to the Report:  some key  highlights:

∗ Inflation decreased in September 2011 from the previous month to 6.3% due to a fall in local food and imported
fuel prices, although it is still more than double the inflation rate in September 2010.
∗ Retail fuel prices were still much higher in Sept 2011 compared to Sept 2010, however from the previous
month it continued to decline since its peak in May this year mainly due to a decrease in world crude oil
prices.
∗ The level of remittances (provisional) plunged in September 2011 by 27% and by 39% from the previous
month and a year ago respectively, due to fall in household remittances.
∗ Despite the decline in total revenue collection in September 2011 from the previous month, it improved by
5% compared to the same month a year ago mainly due to a pick up in tax revenue.
∗ Although total expenditure increased in September 2011 from the previous month while revenue declined, it
still remains well on track as 23% of this year's budget whereas revenue collected reached 28%.
∗ Total net lending increased in September 2011 from the previous month due to equity payments made by the
government to other enterprises.

For full text of the Report, click here

ENDS

Issued by the: Ministry of Information and Communications, Nuku'alofa, 2012. Source: Ministry of Finance and National Planning.

 
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