Users’ needs and practices Martin Kellaway National Accounts in Practice – Advanced course Luxembourg, 2-11 October 2017 THE CONTRACTOR IS ACTING UNDER A FRAMEWORK CONTRACT CONCLUDED WITH THE COMMISSION

Overview Types of users Types of uses

Types of users Users of methodology Users of data Non-administrative Statistical authorities Analysts Users of data Non-administrative Non-financial enterprises Financial institutions Other users Adminstrative European institutions International institutions National authorities Researchers

Users of methodology Statistical authorities Researchers Analysts – National Statistical Institutes – Central Banks – Finance Ministries Researchers Analysts

Users of data - administrative European institutions DG– forecasts, assessment, enlargement DG ECFIN – economic and fiscal developments policy formulation – in recent years also financial assistance programmes Other Directorates-General – DG REGIO (Regional policy) concerning data on government expenditure by region. European Central Bank – Monetary policy, financial stability Macroeconomic Imbalances Procedure - surveillance mechanism that aims to identify potential macroeconomic risks

Users of data - administrative International institutions International co-operation - UN Statistics Division - International Monetary Fund (IMF) - World Bank - Organisation for Economic Co-operation and Development (OECD) Consistency of methodology - System of National Accounts and ESA - IMF GFS manual and Manual on Government Deficit and Debt Timeliness, reporting burden - Exchange of data with IMF and OECD

Formulating and monitoring economic & social policies ESA statistics used for: Serving as a base for national policy evaluations and projections Forecasting a country’s economic prospective European monetary and fiscal policy Convergence criteria for EMU – government deficit & debt, GDP Granting monetary support to regions (based on regional accounts figures) Determining the own resources of the EU (GNP, VAT own resource)

Framework for analysis and policy The structure of a total economy, ESA shows: value added and employment by industry value added and employment by region How income is distributed by sector imports and exports by product group final consumption expenditure by functional heading and product group fixed capital formation and fixed capital stock by industry the composition of the stocks and flows of financial assets by type of asset and by sector

Framework for analysis and policy Specific parts or aspects of an economy total and sectoral use of banking and finance in the national economy Non-financial corporate performance the role of government and its financial position the economy of a specific region (in comparison to that of the nation as a whole) household saving and debt levels

Framework for analysis and policy Development of an economy over time the analysis of GDP growth rates the analysis of seasonal patterns in quarterly household expenditure the analysis of particular types of financial instruments over time, e.g. financial derivatives the comparison of the industrial structures of the national economy over the long term

Framework for analysis and policy A total economy relative to others the comparison of the roles and size of government in the Member States of the EU analysis of the interdependencies between the economies of the EU, taking into account Member States and their regions the analysis of the composition and destination of the exports of the EU the comparison of GDP growth rates or disposable income per capita in the EU and other developed economies

Framework for analysis and policy Determining the EU Budget the total resources for the EU Budget are determined as a percentage of the sum of Member States’ gross national income (GNI) the ‘third own resource’ of the EU is the VAT own resource the relative size of contributions by Member States for the ‘fourth own resource’ of the EU is based on their GNI estimates