Implementation of 2008 SNA AEG Meeting on National Accounts May 28-31, 2013 Luxembourg.
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Transcript of Implementation of 2008 SNA AEG Meeting on National Accounts May 28-31, 2013 Luxembourg.
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Implementation of 2008 SNAAEG Meeting on National Accounts
May 28-31, 2013
Luxembourg
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Implementation of 2008 SNAThe UNSD in collaboration with ECLAC, and CARICOM held a seminar on “Developing a Programme for the Implementation of the 2008 SNA and Supporting Statistics” in Jamaica from January 28 – February 1, 2013 for CARICOM CountriesSTATSCAN & CARTAC also present
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Implementation of 2008 SNAThe programme consisted of a national
and regional segmentNational segment – focused on Jamaica’s
strategy for the implementationParticipants from the central bank,
Ministry of Finance and the Planning Institute of Jamaica, some main data providers
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Implementation of 2008 SNAExpressed their immediate and medium term
policy issues to be monitored using macro economic statistics
Need for more detailed macro-economic data with higher frequency.
Integrated sequence of accounts and balance sheets with from-whom-to-whom perspective in order to meet the needs of the macro prudential and financial stability regulations
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Implementation of 2008 SNATourism Satellite AccountTrade in Services Statistics
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Implementation of 2008 SNAJamaica is also planning to subscribe to
the IMF’s Special Data Dissemination Standard (SDDS)
Need for improvement in the quality and timeliness of the underlying data required for compiling the macroeconomic accounts of Jamaica
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Implementation of 2008 SNAReview of the statistical capacity-
strengths & weaknessReview of the data needsReview was guided by the regional work
programme
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Requirements for ImplementationStatement of Strategy was developed
Regulatory & Institutional FrameworkStatistical InfrastructureStatistical Operations
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Regulatory & Institutional Framework
• Jamaica has a decentralised statistics system
No coordination at the national level and no standards throughout the system
Statistics Act is currently being amended to incorporate the establishment of a national coordinating mechanism – Statistical Commission, establish a NSS
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Regulatory & Institutional Framework
Assessment of the capacity of the MDAs in the production of official statistics and a user needs gap analysis of both private & public sectors
Result Statistical Master PlanImplementation of 2008 SNA will however not await the completion of the NSS
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Regulatory & Institutional Framework
Improvement in the coordination between data providers and users is required. This will include meetings with agencies in
the compilation of statistics development of service level agreements
and MOUs with data providers
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Regulatory & Institutional Framework
• Restructuring the organization to make it– more flexible as the demand for
statistical products increase– To increase efficiencies in the business
processes
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Statistical InfrastructureUpgrading of the statistical infrastructure ;
To make it 2008 SNA compliant- The first phase should cover Milestone 2 of the 2008 implementation
Quarterly GDP by expenditure Improvements to the national accounts
that were not undertaken in the last major revision to the system.
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Statistical Infrastructure
Classification compliant- ISIC rev4The Balance of Payment prepared based
on the BPM6 Scope of GFSM 2001Continuous improvement in the business
registers• Increased use of administrative data
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Statistical Infrastructure
Maintain and expand the information & communication technology infrastructure
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Statistical Operations
• Compilation of estimates incorporating the conceptual changes of the 2008 SNA. The the new supply and use table will ensure consistency of the data
• Given resource constraints not all recommendations will be attempted
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Improvements to the national accounts that were not undertaken in the last major revision to the system
Compilation of quarterly GDP by expenditure
Exhaustive measure of GDP – in discussion with the IDB to fund an informal sector study
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Statistical Operations• Improvement in the basic statistics used in
the national accounts such as the Introduction of monthly production volume and turnover index, expansion of PPI
• Household Expenditure Survey to be undertaken in 2015
• Integration of BPM6 and 2008 SNA-related surveys
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Statistical Operations• Back casting of estimates • Institutional sector accounts• Detailing sources and methods -metadata• Dissemination policy to include advance
release calendar, revision policy, • Electronic data collection system
introduced
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Schedule for Implementation The first phase will be completed in 2016
Milestone 2 of the Minimum Required Data Set
Quarterly GDP by expenditure Improvements to the national accounts
that were not undertaken in the last major revision to the system. This should also lead to improvement in the coverage.
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Schedule for ImplementationInstitutional sector accounts- gradual
introduction final set of accounts by 2020STATIN will not be able to implement the
full scope of the SNANo plans in the medium term to include
the financial accounts and balance sheets
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Support for ImplementationTraining for staff- CARICOM and
CARTACTechnical assistanceAdvocacy from IDP to stress importance
of these statistics to national governments