Presentation on theme: "1 Transition of National Accounts of the Republic of Belarus to 2008 SNA Methodology and Cooperation between Producers of Official Statistics National."— Presentation transcript:
1 Transition of National Accounts of the Republic of Belarus to 2008 SNA Methodology and Cooperation between Producers of Official Statistics National Statistical Committee of the Republic of Belarus I.V.Sergeychenko
2 National Accounts of the Republic of Belarus goods and services account; production account; generation of income account; allocation of primary income account; secondary distribution of income account; use of income accounts; capital account. Current State
3 Trends in Implementation of the 2008 SNA A working group has been approved for implementation of the 2008 SNA main provisions into statistical practice; An action plan for implementation of the 2008 SNA has been approved; Technical assistance by IMF experts; Involvement of national account experts in training workshops.
4 Main Priorities for Improvement of National Accounts and Implementation of the 2008 SNA Implementation of new classification of economic activities (CCEA 005-2011) since January 2016. Such classification has been developed based on classification of economic activities of the European Union NACE v. 2.0.; Expenditures for R&D activities; Inclusion of military expenditures ; Financial intermediation services indirectly measured; Services of owner occupied housing; Development and implementation of classification of institutional units by economic sectors in line with the recommendations of the 2008 SNA; Improved estimates of non-observed economy.
5 statistical surveys by types of economic activities were conducted for two years with two versions of CCEA; retrospective calculations by indicators of national accounts have been performed since 2010. Classification of economic activities CCEA 005-2011 Main Priorities for Improvement of National Accounts and Implementation of the 2008 SNA
6 Disaggregation of survey data and data validation has been conducted, which allowed calculation of output, intermediate consumption and gross fixed capital formation by three groups: market producers active on the market; market producers which do not have sales (R&D development is performed at own expense); units of general government sector. Expenditures on R&D activities Main Priorities for Improvement of National Accounts and Implementation of the 2008 SNA
7 This issue has been resolved in cooperation with the Ministry of Defence. Determined expenditures for armament systems, which are constantly used for production of defence services. Annual data on expenditures for armament systems have been provided, as well as data on volume and prices of assets in the year of acquisition and service-lifes Consumption of fixed capital has been calculated. Inclusion of military expenditures Main Priorities for Improvement of National Accounts and Implementation of the 2008 SNA
8 Currently, the FISIM is calculated according to the 93 SNA and is presented as a separate economic sector In line with the 2008 SNA, the estimates for FISIM are done separately for deposits and loans using reference rate When assessing the reference rate, the interbank rates were taken into account, as well as the highest bank deposit rates, the lowest credit rates and long-term government bond rates Financial intermediation services indirectly measured Main Priorities for Improvement of National Accounts and Implementation of the 2008 SNA
10 FISIM after Distribution by Types of Economic Activity As percentage of GDP (93 SNA) As percentage of GDP (2008 SNA) Gross domestic product 100 including: Taxes less subsidies on products 12.712.3 Gross value added 87.387.7 Agriculture, hunting & forestry 220.127.116.11.3 Fishing 0.10.10.10.1 Mining and quarrying 1.11.11.01.0 Manufacturing 26.125.2 Electricity, gas and water supply 18.104.22.168.8 Construction 22.214.171.124.2 Wholesale & retail trade; repairs 14.013.3 Hotels and restaurants 0.70.70.70.7 Transport, storage and communications 7.57.57.07.0 Financial intermediation 126.96.36.199.4 Real estate, renting & business activities 6.06.07.47.4 Public administration and defence; compulsory social security 3.03.02.92.9 Education 188.8.131.52.8 Health and social work 184.108.40.206.8 Other community, social and personal service activities 220.127.116.11.8 FISIM (Financial intermediation services indirectly measured) -2.4-
11 According to the 93 SNA methodology, the housing services are estimated using annual average square of owners occupied housing and maintenance expenditures. Rental expenditures (excluding communal payments), obtained from sample household survey are added to the estimate. According to the 2008 SNA, a user expenditure method has been used to determine imputed rent of owner occupied housing Owner Occupied Housing services Main Priorities for Improvement of National Accounts and Implementation of the 2008 SNA
12 Owner Occupied Housing Services Years1993 SNA2008 SNA OutputGVAOutputGVA 20102,1971,7886,1994,841 20112,5602,0339,6996,992 20123,5832,77116,26312,305 Shares in GDP 2018.104.22.168.9 2022.214.171.124.3 20126.96.36.199.2
13 An interdepartmental group on development and implementation of the classification has been established Model classification has been developed by the CIS Statistical Committee and ECE Recommendations on application of the ECE classification of institutional sectors in member-states of the Eurasian Economic Union have been prepared Classification of institutional units Main Priorities for Improvement of National Accounts and Implementation of the 2008 SNA
14 Non-observed economy – types of economic activity not captured by the official statistics hidden economy is an activity which is permitted by law, but is intentionally hidden to defraud the revenue and avoid to pay taxes and other mandatory payments informal economy is an activity on production, circulation and disposition of goods and services which is conducted mainly according to the law by individuals, private entrepreneurs, based on informal relationships between production participants illegal activity is an activity which is forbidden by law or types of activity which are performed without permission, for example, unlicensed medical practice Main Priorities for Improvement of National Accounts and Implementation of the 2008 SNA
15 Impact of the 2008 SNA Methodology on GDP (Production Method) for a Year of 2012 Impact on GDP in % Primary changes affecting GDP as per the2008 SNA Change in accounting of research and development0.60.6 Change in accounting of military expenditures0.10.1 FISIM0.90.9 Imputed payment of owner occupied housing1.81.8 GDP (2008 SNA ) 3.43.4
16 Impact of the 2008 SNA Methodology on GDP (End-use Method) for a Year of 2012 Impact on GDP in % GDP3.43.4 Final consumption expenditure3.03.0 Final consumption expenditure of households3.13.1 Final consumption expenditure of general government, including:- 0.1 Individual consumption of general government- Collective consumption of general government- 0.1 Final consumption expenditure of NPISHs- Gross capital formation0.80.8 Gross fixed capital formation0.80.8 Changes in inventories- External balance on goods & services- Exports of goods & services- Imports of goods & services- Statistical discrepancy- 0.4