1. GENERAL GOVERNMENT FINANCIAL STATISTICS GENERAL GOVERNMENT FINANCIAL STATISTICS  Recent Achievements  Present Situation

2. OUTLINE OF THE PRESENTATION New Process Initiated By Public Financial Management And Control Law Harmonization In Terms Of Sectoral Coverage Harmonization With International Classifications Compilation of Data Serving as the Basis for Financial Statistics Efforts to Improve the Data Quality Present Situation And Challenges 2

3. PUBLIC FINANCIAL MANAGEMENT AND CONTROL LAW Financial statistics introduced conceptually to the Law at the first time Transition from consolidated budgetary coverage to the general government coverage Transition from cash-based accounting system to accrual- based accounting system 3

4. HARMONIZATION IN TERMS OF SECTORAL SCOPE A workshop conducted to determine the coverage of general government The authority to determine and update the coverage in consultation with concerned institutions granted to MoF. The scope foreseen in the international standards put into force by a General Communiqué It became a rule to update the scope every 3 years in consultation with concerned institutions The same scope now applicable for preparation of GFS (IMF), EDP and ESA Tables (EUROSTAT) 4

5. HARMONIZATION WITH INTERNATIONAL CLASSIFICATIONS Application of analytical budget classification Economic, functional, institutional, financing classification Conversion of the codes on detailed chart of accounts to ESA Codes Conversion of the codes on detailed chart of accounts to GFS Codes Regular revision of bridge tables 5

6. COMPILATION OF DATA SERVING AS THE BASIS FOR FINANCIAL STATISTICS General Government Financial Statistics System (GGFSS) All datas based on administrative records. 1000 Municipalities, 53 Special Provincial Administrations 1009 Unions of Local Administrations, 33 Municipality Affiliates 26 Development Agencies Extra-budgetary funds, social security institutions, and others accounting records-based data on revenues, expenditures, assets, liabilities and equity Data compilation on monthly and quarterly basis 6

7. EFFORTS TO IMPROVE DATA QUALITY Reviews made by MoF Public financial statistics audit reports prepared by Turkish Court of Accounts and submitted to the Grand National Assembly Automatic controls introduced to the General Government Financial Statistics System (GGFSS) in line the findings of the reviews and audits Financial statistics trainings provided to the concerned institutions 7

8. I PRESENT SITUATION General government scope harmonized with international standards such as GFSM, ESA and SNA Coverage revised every 3 years Administrative records based on accrual-based accounting system Dissemination of quarterly financial statistics in line with international practice 8

9. PRESENT SITUATION Financial statistics are determined with General Government Accounting Regulations at the first time. That is; Financial statistics are consolidated tables which generate imformation regarding to general government sector units’ s revenue, expense, asset, liability and equity and are formulated based on the statistical principles. 9

10. I PRESENT SITUATION In 2015, General Government Accounting Regulations came into effect. And our new tables which are GFS formatted: The Statement of Net Balance ( Above The Line The Statement Of Government Operations ) The Statement of Net Financial Balance ( Below The Line The Statement Of Government Operations) The Statement of Functional Classification of Expenditures (Outlays By Functions Of Government) The Statement of Contingent Assets and Liabilities (IPSAS No 19 Article 8) Balance Sheet ( GFS Table 6 Balance Sheet) Cash Flow Table (Statement Of Sources And Uses Of Cash) 10

11. CHALLENGES The Cash Flow Table based on IPSAS criterions technically. Consumption of fix capital is calculated at the end of the year. Consumption of fix capital for quarterly and monthly is estimated. For monthly and quarterly GFS tables, interest expense is determined by using cash basis of data. For annual GFS tables, interest expense is determined by using accrual basis of data. 11

12. THANK FOR YOUR ATTENTION General Directorate Of Public Accounts