Transcript Papua New Guinea Joint Presentation

BRIEFING on how to improve Gross Domestic
Product (GDP) in Papua New Guinea
Outline
• Introduction
• Importance of GDP
• Strengthening our legislation or Statistical Services Act 1980
• Data sharing (macroeconomic statistics technical working Group)
MSTWG between PNG NSO, BPNG, Treasury, Internal Revenue
Commission (IRC) , and Investment Promotion Authority (IPA)
• Recruitment of additional Employees and training and up skilling of
officers
• Resources (NSO)
• CLASSIFICATION ISSUES
Introduction
The National Statistical Office presents a joint briefing with the Bank of
PNG and the Internal Revenue Commission for the Minister and heads
of Treasury, the Bank, Statistics and Revenue on how to improve Gross
Domestic Product (GDP) in your country.
GDP plays a key role in the formulation, implementation, monitoring
and evaluation of national public policy frameworks and international
agreed goals such as the Millennium Development Goals (MDGs) to
enhance human development.
1: Importance of GDP
GDP is a key macroeconomic statistic which measures
the output produced in a country. The first thing
analysts look at when assessing the performance of a
country’s performance GDP which is used by lenders as
an indicator of a country’s ability to repay its debt and
it can determine how much and at what terms
countries can borrow to finance essential infrastructure
for economic development and improved living
standards.
GDP estimates and forecasts are also important for
sound macroeconomic management and monetary and
fiscal policy because GDP underlies the forecasts of
inflationary pressures, the balance of payments and tax
revenue collections. It is of paramount importance that
timely and relevant data is provided to ensure quick
processing and release of GDP figures.
Useful for:
 Comparison over time
 Comparisons between countries
 Evaluating the success of Economic policy
2: Strengthening our legislation or Statistical Services
Act 1980
NSO is the mandated agency in PNG that is tasked to collect
data. NSO’s powers to prosecute unwilling parties has to be
strengthen to make certain that this office fully meets its
mandate. Tougher laws such as the proposed K10, 000 for
non-compliance and imprisonment of up to 2 years should be
implemented as soon as possible.
The Statistical Services Act 1980 also highlights the powers, roles and functions of
the NSO and assures government departments that supply statistical data is treated
with the highest degree of confidentiality.
While each department or organization has its own secrecy provisions regarding
the release of official data to external parties, the majority of government
departments/agencies are reluctant to share data.
However, the NSO has already demonstrate their ability to handle data with the
recent release of the 2006-2013 GDP data using mostly Tax data from IRC.
NSO would work closely with IRC and other key data providing agencies to make
certain that the information provided is treated with the highest degree of
confidentiality.
3: Data sharing (macroeconomic statistics technical working Group)
MSTWG between PNG NSO, BPNG, Treasury, Internal Revenue
Commission (IRC) , and Investment Promotion Authority (IPA)
The macroeconomic statistics TWG was established in 2015 and was
scheduled to meet on quarterly basis. It was guided by the terms of
reference developed by the NSO. Apart from the NSO other members
of the group are the Bank of PNG, PNG Internal Revenue Commission,
Department of Treasury, Investment Promotions Authority, PNG
Customs and the Department of National Planning & Monitoring.
NSO has only called one meeting since the
establishment of the working group. NSO has to be
more proactive in coordinating the collection of high
quality and reliable data from Key agencies for GDP
compilation
A steering committee comprising the Heads of
Organizations has to be functional to guide the MSTWG
and make certain that the roles & objectives are fully
implemented
4: Recruitment of additional Employees and training
and up skilling of officers
 Pay grade and other benefits should also be upgraded to
attract quality graduates and keep good officers.
 The NSO proposed structure to increase the staff ceiling
would greatly assist the current officers to process raw data
and help in the timely publication of reports.
 Training and mentoring of current officer by senior and
experience staff should be highly encourage and supported
by management.
5: Resources (NSO)
 The NSO needs to improve its communication links with
other stakeholders, and provide internet and telephones to
its staffs for doing follow ups.
6: CLASSIFICATION ISSUES
 NSO, IRC and Treasury must use the same
version of classification.
End of Presentation
Thank you