Updating SNA 1993 ISWGNA (Eurostat, IMF, OECD, UN, World Bank)

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Presentation transcript:

Updating SNA 1993 ISWGNA (Eurostat, IMF, OECD, UN, World Bank)

History SNA 1993 ten years old Robust; stood test of time New phenomena (stay relevant) incremental revision too slow, fragmented UNSC 2003 approves consolidated review start 2003 - publish “SNA93 rev 1” 2008

Issues - Criteria No fundamental changes New issues in economy Old issues only if new developments User demands Consistency with BoP and GFS Feasibility

Issues - Main examples Pension funds Financial services and insurance R&D as capital formation Military durables and consumer durables Accrual accounting of interest Intangible assets (license, leases,…)

Issues -more examples Employee stock options Non-performing loans Holding gains with high inflation Repurchase agreements BOOT schemes other smaller issues

Technical groups Subjects now studied in technical groups: Canberra group on non-financial assets Electronic discussion groups (EDG) Regional Working Groups (EU, OECD, etc) Government Accounts Convergence Group IMF revising BPM in parallel

SNA revision process ISWGNA manages and coordinates Advisory Expert Group City groups, EDG, regional commissions.. Editor, to draft text Project manager, day-to-day Funding

Advisory Expert Group Technical decisions 20 experts based on EDG, Canberra II etc 20 experts consensus or majority decisions meet once per year reports sent to countries for comment.