THE SOUTH AFRICA I KNOW, THE HOME I UNDERSTAND Towards 2008 SNA: The South African experience EN/CSC2/2014/Pres/03

THE SOUTH AFRICA I KNOW, THE HOME I UNDERSTAND Need to touch base on … Joint responsibility Benchmark and rebasing cycle 08SNA Project plan Related matters

THE SOUTH AFRICA I KNOW, THE HOME I UNDERSTAND Joint responsibility Stats SA – official statistics o GDP production and income approaches o Supply and Use tables o Input-output tables o Social Accounting Matrices o Environmental-Economic Accounts, e.g. Minerals, Energy, Water, Fisheries o Satellite Accounts, e.g. Tourism, ICT, NPI South African Reserve Bank o GDP expenditure approach o Institutional Sector Accounts o Balance of Payments o Financial Sector South African Revenue Service o Merchandise trade statistics Department of Agriculture, Forestry and Fisheries o Quarterly data on Agriculture

THE SOUTH AFRICA I KNOW, THE HOME I UNDERSTAND Benchmark and rebasing cycle Why? o Keep relative weights current (5 year cycle) o Incorporate infrequent datasets o Introduce new classifications or methodological changes June 1999 o 93SNA introduced o Base 1995 Nov 2004 o Taxation based register for source statistics o Introduce sub-national estimates o Develop base year in supply and use framework o Base 2000 Nov 2009 o Refine 93SNA e.g. Non-observed economy o Consolidate approach of annual SUT o Double deflation o CPC v.2 o Base 2005

THE SOUTH AFRICA I KNOW, THE HOME I UNDERSTAND 08 SNA project plan (1) Embedded in organisational strategy o Stats SA forward work program (Minister, Council, Parliament) o Economic statistics strategy o Divisional operation plans o Individual performance agreements Implications of 08SNA o Discussion document o 6 of 37 recommendations impact on GDP o Refined FISM calculation o Capitalisation of military expenditure o Stock options as compensation of employees o Capitalisation of R&D o Valuation of output for own final use to include return to capital o Changes in recording of pension entitlements o Amendments to basic surveys e.g. new/rephrased questions

THE SOUTH AFRICA I KNOW, THE HOME I UNDERSTAND 08 SNA project plan (2) Project team o Stats SA and SARB o Quarterly high-level meetings o Technical as required o Involve DAFF and SARS more frequently in t-12months o Detailed timelines o Revision policy Agreement on timelines o Finalise structures of SUT base year: Dec ’13 o Finalise 2010 base year: Mar ’14 o Preliminary nominal : Apr ’14 o Preliminary real estimates : May ’14 o Final annual estimates : June ’14 o Final quarterly estimates : Aug ’14 o Preliminary annual : Sept ’14 o Final annual and quarters : 15 Oct ’14 o 3 quarters of 2014: 18 Nov ’14 o Publish: 25 Nov ‘14

THE SOUTH AFRICA I KNOW, THE HOME I UNDERSTAND Related matters User involvement o Minister o Statistics Council o Key users seminar o Opinion pieces, web articles Other international standards o Balance of Payments Manual 6 o ISIC Rev 4 o Local version (SIC 7 completed) o Dual coded register (census of business?) Unfunded o Parallel surveys o Revised national accounts (benchmark 2019?) Comparability of statistics o ICP (periodic Global vs annual African) o BRICS o OECD and major trading partners o SDDS requirements

THE SOUTH AFRICA I KNOW, THE HOME I UNDERSTAND Thank you Joe de Beer Deputy Director-General: Economic Statistics Statistics South Africa +27 (12)