The role of sector accounts in the progressive alignment of Georgia with the European statistical system
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Date
2022
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Ivane Javakhishvili Tbilisi State University Press
Abstract
The development of sector accounts within the system of national accounts is the high
on the Development Strategy of the National System of Official Statistics of Georgia and the global
policy agenda as well. The System of National Accounts (SNA) is a comprehensive, consistent and
flexible set of macroeconomic accounts to meet the needs of government, policy-makers, decisionstakers
and private-sector analysts. National accounts provide information to analyze the structure of
economies and their development over time. SNA promotes the integration of economic and related
statistics in a system that is based on consistent economic and statistical concepts and methods. As
such, it allows domestic and international comparative analysis, helps economists to measure the level
of economic development and the rate of economic growth, the change in consumption, saving,
investment, debts and wealth for not only the total economy but also each of its institutional sectors.
Institutional sector accounts present a complete and consistent set of data for sectors, which combine
institutional units with broadly similar characteristics and behavior. The role of sector accounts is
extremely important in constructing the comprehensive system of national accounts of any countries.
As Georgian statistics is on its starting point to develop sector accounts, current abstract emphasizes
the needs of sharing the best practice of the EU countries in compilation of sector accounts and making
comprehensive analysis. Furthermore, progressive alignment of the statistical system of Georgia with
the European Statistical System is defined by the EU-Georgia Association Agreement in order to ensure
integrity and comparability of official statistics at the global level.
Description
1. Mindorashvili, M., The role of household sector key indicators in macroeconomic analysis.
shorturl.at/qszW3 Scientific Publication, Teaching Statistics and Statistical Researches in Georgia,
2018. 131-134.
E-references:
1. Bank of International Settlements, Development of financial sectoral accounts,
https://www.bis.org/ifc/publ/ifcwork15.pdf
2. Eurostat, GDP and main aggregates-international data cooperation annual data,
https://ec.europa.eu/eurostat/web/sector-accounts
3. European Central Bank (ECB), Statistics for all institutional sectors in Euro area,
https://www.ecb.europa.eu/press/pdf/ffi/ecb.eaefd_full2022q2_annex_1~214cb411f5.en.pdf
4. Geostat, National Strategy for the Development of Official Statistics of Georgia,
https://www.geostat.ge/media/30076/NSDS-2020-2023-_ENG.pdf
5. Organisation for Economic Co-operation and Development (OECD), Non-financial Accounts,
https://www.oecd.org/sdd/na/
6. United Nations (UN), National Accounts: a practical introduction, (NY) 2003,
https://unstats.un.org/unsd/publication/SeriesF/seriesF_85.pdf
7. United Nations Statistics Division (UNSD), The System of National Accounts 2008, (NY) 2009,
https://unstats.un.org/unsd/nationalaccount/docs/SNA2008.pdf
Keywords
System of National Accounts (SNA), Sector accounts, Statistics
Citation
VII International Scientific Conference: "Challenges of Globalization in Economics and Business", Tbilisi, 2022, pp. 309-313