Transcript Financial account

The State Statistical Committee
of the Republic of Azerbaijan
Implementation 1993 SNA in
statistical practice of Azerbaijan
Sabina Guliyeva
Senior Adviser
of National Accounts Statistics Department
Pre-conditions of
introduction SNA
The socio-economic transformations occurring in the
country and transition to market economy
Integration of Azerbaijan to the world association
Necessity of transition of all statistics to the world
standards and provision of comparability indicators of
statistics at the international level
Necessity of creation of qualitatively new system of the
macroeconomic indicators, gives opportunity to make
deeper and complex analysis at economic situation
Preparation to introduction SNA
Transition from tables and indicators
of Balance of National Economy
to indicators of System of National Accounts
began in first half 90th years
in close cooperation and
with technical help ОECD.
Actions for provision of
introduction SNA
Improvement existing and elaboration of new forms of
the reporting
Improvement of the base of information
Creation of the register of the enterprises adequate to the
international standards
Introduction of the international classifiers
Experimental calculations of GDP created conditions for
elaboration indicator of GDP which is one of basic units
of SNA
Current position
National accounts are making up
for 5 institutional sectors:
Non-financial corporations
Financial corporations
General government
Households
Non-commercial (public) organizations served for
households (NPISH)
Making accounts SNA are conducted in according with
concepts and definitions of System of National Accounts of
the United Nations 1993 (1993 SNA).
Current position
(financial account)
Construction of the financial account
is general recommendation of 1993 SNA and
is necessary in the future.
The financial account should provide the account of
change of the financial actives belonging to the enterprises,
financial corporations, households,
non-commercial organizations.
For example, it is necessary to have the information on
financial actives of the religious organizations.
The financial account is experimentally made for 2006.
Financial account (continuation)
Works on improvement of information base
are conducted for this account.
In conditions of wide dissemination of non-observable
economic activity and commercial secret make it
extremely difficult.
At least, it is necessary to have wide access
to the bank information, and it will more coordinate with
functions of the Central Bank, than with functions of SSC.
To solve this problem, probably will be needed more time,
than represented at initial stage of work.
Financial account (continuation)
At the end of the last year we start
experimental work on making of
financial account SNA.
And later we conducted one time survey by
technical support of Eurostat on
non-financial enterprises for making of this
account as results of 2007.
The data are collecting at the moment.
Table’s Input-Output
Taking into account that system of table’s
input-output is the irreplaceable instrument for
the analysis of economic processes and
management of economy, the problem of making
of these tables always remained in our field of
vision and in conditions of stable-dynamical
development of a national economy begun in
second half 90 the decision
to make accounting inter-branch balance was
accepted according to 2001.
Table’s Input-Output (continuation)
Major importance of making table’s
input-output - that they define and
create a basis for the deep analysis of
structure of a national economy, interbranch communications, and also
structures of production and
expenditure of GDP.
Regional accounts
Since 2001 are conducted calculation of GRP
indicator on several large regions of the country
By the end of 2008 it is planned to receive
estimations of GRP in all regions of the country
with accounting of main principles 1993 SNA
concerning to the unit of resident
Quarterly national accounts
Presence and the publication of quarterly
national accounts is one of conditions of
connection of the country to the Special
standard of distribution of the data of IMF
In SSC of Azerbaijan work above quarterly
GDP on a discrete basis has been started in
2003 by technical support of IMF
Analytical basis
SSC of Azerbaijan makes the annual and quarterly
statistical data on national accounts, proceeding from
concepts and the definitions recommended 1993 SNA.
Definition
GDP shows a total cost of the goods and the services
made by all residents in territory of the country during
the certain period, intending for final consumption,
saving and import.
Quarterly GDP calculated by methods of
production and expenditure in current and
constant prices (base year-2001)
There are numbers of the data since 1998
Systems of used classifications
The national classifier of Kinds of economic
activities (İFNT), based on NACE
The budgetary Classification based on
Classifications of government on functions,
Classifications of income and expenditure
Scope of operations
GDP includes all kinds of activity within the framework of
sphere of production 1993 SNA, except the operations
with the military goods.
Unaccounted activity
GDP includes finish counting on production of the
goods and services by households and natural persons
engaged in business activity, and also amendments on
understating and misses of the data in official statistical
accounting
Finishes counting on criminal activity (the weapon,
drugs, prostitution and etc.) in GDP are not included,
because this sphere has insignificant scales from the
economic point of view
Time of registration
As a whole all operations are reflected on
the basis of a principle of adding according
with recommendations 1993 SNA.
However, the data on sector of the
government are taking by a cash method.
Cost estimation
Cost of market production is indicated in basis prices
Output production for own consumption is estimated in
equivalent market prices
Transport extra charges, taxes from sales and excise taxes
are included in estimation of intermediate consumption
The VAT is included in estimation of intermediate
consumption except of the part of the VAT which is
subject to a deduction
Total sums of cost of import and export are estimated on
a basis of free on board (fob)
Character of the reference data
Method of production
The basic sources of the data are the regular quarterly reporting of
large, average and small enterprises, the data on execution of the
state budget, incomes and expenditure of Fund of Social protection,
Oil Fund, Ministry Finance and other administrative data
The basic volume of the information on manufacture of agricultural
production and services turn out from sample surveys of farmer and
peasant economy
The share of intermediate consumption in output on corresponding
kind of activity is accepted, while, identical for all quarters and
average annual significance of share of intermediate consumption
calculating for the previous year
The reporting allowing shortly obtaining the data on intermediate
consumption has already introduced separately for each quarter
Method of expenditure
The data on expenditure of GDP in current and
constant prices are published in breakdown on the
basic categories of expenditure:
Final consumption, separately on:
Households
Government
Non-commercial (public) organizations
served for households (NPISH)
Gross saving of the capital and change of stocks
Export and import
Method of expenditure (continuation)
Final consumption of households are calculated on the
data of households budgets surveys and retail trade (with
correction on purchases of non-residents and purchases of
the goods by the enterprises in a network of retail trade)
Source of the information on consumption of government
is the report on execution of the state budget of the
Ministry of Finance
Indicators of consumption NPISH are formed on the
basis of reports of the corresponding organizations
Indicators of saving are formed on data of regular
quarterly and annual reporting of the enterprises
The data on export and import - on indicators of the
balance of payments
Calculations in constant prices
At calculation of dynamic numbers in average
annual prices of base year, making units of
GDP are extrapolated independently on each
indicator with the help of consecutive
multiplication of chain indexes of physical
volume
The method of unary deflation is used
Method of production
Output on agriculture is deflated by means of price index
of agricultural production, and output on trade by means
of consumer price index
Output on industry, construction and transport is
estimated in constant prices with using of indexes of
physical volume corresponding branches
For a deflation of non-market services - index on
number of employees
Net taxes are transforming in constant prices with using
generalized deflator of the gross value added of taxable
branches
Method of expenditure
Final consumption of households is deflated by means of
consumer price index
Consumption of the government and non-commercial
organizations serving households is deflated by means of
index on number of employees
Export and import of the goods and services are
estimated only in the current prices because of absence
corresponding price index. At the moment work on index
is conducting and it will be introduced by the end of 2008
The publication of the data
of quarterly GDP
The data of quarterly GDP calculated by
the methods of production and expenditure
started to publish
from the beginning of 2008.
The international cooperation in
the field of National Accounts
In the field of elaboration and conducting national
accounts SSC of the Republic of Azerbaijan
actively cooperates with international statistical
institutes with such organizations,
as ОECD, IMF, UNECE, Eurostat and
with statistical services of the countries CIS.
These contacts serve as a good basis for
accumulation of experience in this area and for the
decision of available problems.
The publication of the data on SNA
The data on National Accounts are
published in a yearbook
«National Accounts of Azerbaijan»
and in the annual collection
«Statistical Yearbook of Azerbaijan»
and on website of SSC.
Thank you for attention!