Implementation of 2008 SNAAEG Meeting on National Accounts

May 28-31, 2013

Luxembourg

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

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

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

Implementation of 2008 SNATourism Satellite AccountTrade in Services Statistics

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

Implementation of 2008 SNAReview of the statistical capacity-

strengths & weaknessReview of the data needsReview was guided by the regional work

programme

Requirements for ImplementationStatement of Strategy was developed

Regulatory & Institutional FrameworkStatistical InfrastructureStatistical Operations

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

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

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

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

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.

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

Statistical Infrastructure

Maintain and expand the information & communication technology infrastructure

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

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

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

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

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.

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

Support for ImplementationTraining for staff- CARICOM and

CARTACTechnical assistanceAdvocacy from IDP to stress importance

of these statistics to national governments