1. Seminar on Developing Programmes for the Implementation of the 2008 SNA & SEEA Ghana’s Presentation By Bernice Serwah Ofosu-Baadu (Head, National Accounts Statistics & Economic Indicators)

2. Outline  Policy Issue  Recent NA development  Propose implementation process  Priority area for TA assistance  Challenges  Concluding Summary 2

3. Purpose To share Ghana Statistical Service (GSS) experience on recent NA development, constraints, and way forward to strengthen Economic statistics within the National Statistical System. 3

4. Policy Issues Ghana has a Medium-Term Development Policy Framework called the Ghana Shared Growth and Development Agenda (GSGDA, 2010- 2013); The main objective is to establish a just and free society termed as Government’s “ Better Ghana Agenda” 4

5. Policy issue II The Better Ghana Agenda is anchored on the following themes:  Ensuring and sustaining macroeconomic stability;  Enhanced competitiveness of Ghana’s private sector;  Accelerated agricultural modernisation and natural resource management; 5

6. Policy issue III  Oil and gas development;  Infrastructure, energy and human settlements development;  Human development, employment and productivity; and  Transparent and Accountable Governance. 6

7. Recent National Accounts D’evt Publication is on Quarterly and Annual basis. The latest reports are Q2 2013; and 2013 provisional Annual GDP. GSS use two approaches in the GDP compilation: Production and Expenditure; by both the current and constant prices estimates. – The QGDP are compiled using the production approach at constant prices. – QGDP at Current prices to be release on a proposed date. December 18, 2013 7

8. Recent National Accounts D’evt II  Oil exploration are capitalized  GSS follows a fixed dissemination schedule distinguishing between Provisional/preliminary, revised, and final estimates.  In September of the reference year, GSS releases the preliminary annual national accounts estimates for the reference year. – They are based on data collected for the first six months that have been adjusted to cover the whole year. 8

9. Recent National Accounts D’evt III A revised annual estimate is published in April following the reference year. Final annual estimates are published in April following the reference year. Base year price has been revised from 1993 to 2006 base price following 2010 rebasing exercise of the national accounts statistics. 9

10. Recent National Accounts D’evt III  The rebasing exercise commence through good source data from Industrial census (2003), HIES 2006 and Transport indicators Survey (2007), and other administrative records data. – Rebasing is the appropriate exercise to capture structural changes in the economy to reflect the real performance of the economy. 10

11. Recent National Accounts D’evt IV  Changed from ISIC Rev 2 to Revision 4 (ISIC Rev. 4);  Changed from SNA 68 to SNA 1993;  Improved coverage as subsectors are compiled at detailed level;  Methodological and conceptual changes;  Administrative data:  VAT  Government accounts  Balance of Payments data 11

12. Other NA compilation Balance of Payment data are used to compile: – Gross National Income (GNI) – Gross National Disposal Income (GNDI) – Gross savings 12

13. Other NA compilation II Soon to be published by end 2014: QGDP by the Expenditure Approach at both the current and constant prices; and Income approach 13

14. Dissemination The statistical information are disseminated through the following channels:  Website: www.statsghana.gov.gh;  Press releases;  Online request or print out; and  National accounts bulletin 14

15. Propose Implementation of SNA 2008 The propose implementation of SNA 2008 in Ghana includes the following: The update of 2004 SUT to 2013 to include SNA 1993 updates; A rebasing of the National Accounts from a base year of 2006 to 2013; Currently looking out for enterprises and establishments in the production of software and other assets for capitalization purposes 15

16. Propose Implementation of SNA 2008 II  Studying the updates of SNA 1993 or the 6 main recommendations with regards to data availability;  Reclassifying of statistical units according to its own principal activity. 16

17. Supporting statistics – SNA 2008 implementation  Conduct of business register census by listing all establishments resident in Ghana to create a comprehensive business register;  Conduct of economic census; and annual economic survey;  Conduct of informal sector survey  Exhaustive coverage of economic activities  Provide data for policy purposes 17

18. Area of Technical Assistance Update of SUT Rebasing of the national accounts to 2013 18

19. Challenges Computation of the refined method for calculating financial intermediation services indirectly measured (FISIM) in 2008 SNA; The availability of data to classify military weapon as fixed assets 19

20. Concluding summary The policy objective of the Ghana Government is to establish a just and free society termed as “ Better Ghana Agenda” GSS is committed to a continuous improvement in the compilation of National Accounts statistics 20

21. Concluding summary II Planned to adopt SNA 2008 in the next rebasing; Support TA is needed to have a smooth transition and to help overcome some of the challenges 21

22. Thank you for your kind attention 22