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International Monetary Fund. Western Hemisphere Dept.

disseminated GDP-E for 2017–18. In Sint Maarten, DoS compiles annual current price estimates of GDP-P and GDP-E. In the aftermath of the 2017 hurricanes, the final survey-based data have been delayed. The DoS disseminated a preliminary estimate for 2017. In both countries, GDP in constant prices is derived by deflating nominal GDP by the CPI due to the lack of the deflators. Price statistics : Neither country compiles a producer price index or export/import price indexes. Curaçao compiles a monthly CPI and Sint Maarten a quarterly CPI. Measures of core inflation are

International Monetary Fund. Statistics Dept.

commodity flow balances and industry balances; and the input-output matrix can be compiled. There is insufficient source data to produce satellite accounts (e.g., tourism) or institutional sector accounts. 16. The SUT developed by previous CARTAC missions in 2015 was reviewed. It is essentially a commodity flow framework without the input-output matrix. The intention was to use the SUT to produce annual balanced estimates of GDP-P and GDP-E. However, this has not been possible to do in a timely manner due to staff and source data constraints (e.g., timeliness issues

Adriaan M. Bloem, Mr. Robert Dippelsman, Fenella Maitland-Smith, and Paul Armknecht

as detailed a level as possible for domestic final demand the deflation is done by state. Current-weighted price indices are used for capital formation of equipment. Wage indicators and extrapolation, using volume and price indicators, are also used in some cases. The estimates of GDP(I) at constant prices are derived by deflating the current price value by the implicit price deflator from the expenditure estimates. Consequently, the ratio of the income to expenditure estimates at constant prices is the same as at current prices. The estimates of GDP(P) are derived

Mr. Adriaan M. Bloem
Countries compiling quarterly estimates for gross domestic product (GDP) often use alternative approaches simultaneously. This may result in the publication of different measures of quarterly GDP and discrepancies between these measures. Such discrepancies are unavoidable, unless reconciliation takes place or the measures are mutually interdependent. This paper examines international practices in this respect, focusing on OECD member countries that publish quarterly GDP data. Of these, five publish GDP data with discrepancies—the United States, the United Kingdom, Canada, Australia, and New Zealand—and the paper examines causes and the development of these discrepancies.
International Monetary Fund

GDP concept at producer prices to distinguish it from the more traditional concept of GDP at final demand prices, which we denote by GDP F . The two GDP concepts will be reconciled later. 20.70 The value-added aggregates at producer prices defined by equations ( 20.22 ) through ( 20.24 ) can also be summed and this sum will also equal GDP P because the two methods for forming estimates of GDP P are simply alternative methods for summing over the elements of the net supply matrix. 32 Thus the following equation must hold: GDP p

International Monetary Fund. Statistics Dept.
This Technical Assistance Report discusses measures required to improve the national accounts of Suriname, including consistency with the System of National Accounts 2008. The General Bureau of Statistics (GBS) is expected to implement the recommendations of the IMF mission progressively over a five-year period. Given the staff time wasted on data entry and potential transcription errors, the GBS should give high priority to requesting the Ministry of Finance to provide the Government accounts data in Excel format for 2015 onward. With the support of the Finance Minister, the GBS also needs to implement a formal agreement with the Tax Department to share tax registration data, company income tax returns and sales tax returns.
International Monetary Fund. Western Hemisphere Dept.
This 2019 Article IV Consultation focuses on Curaçao and Sint Maarten’s near and medium-term challenges and policy priorities and was prepared before coronavirus disease 2019 became a global pandemic and resulted in unprecedented strains in global trade, commodity and financial markets. The fiscal position in Curaçao improved in the past two years, in part due to implemented fiscal measures. Both Curaçao and Sint Maarten would benefit from introducing a Fiscal Responsibility Framework. It could incorporate a central government debt ratio as a long-term anchor and operational rules calibrated to meet it. The report suggests that risks in the financial sector need to be addressed as a matter of priority. The authorities should develop a strategy for addressing financial sector vulnerabilities with the objective of preserving financial stability while minimizing fiscal costs. Significant strengthening of supervision and a complete overhaul of the bank resolution framework are also urgently needed. An across-the board improvement in the governance framework should be a key priority in both countries. Vulnerabilities in the financial system point to the need to strengthen governance in the financial sector.