I. Overall Assessment

1. This data module of the Report on the Observance of Standards and Codes (ROSC) for FYR Macedonia indicates a statistical system built on a solid legal foundation and for the most part devoted to disseminating quality statistics to the general public. In some cases, the system lacks adequate resources and has shortcomings in data collection.

2. FYR Macedonia participates in the General Data Dissemination System (GDDS); its metadata were first posted on the IMF’s Dissemination Standards Bulletin Board (DSBB) in February 2004. As documented in this paper’s Appendix, FYR Macedonia meets most GDDS recommendations for macroeconomic statistics. In an exception, coverage of the government finance statistics (GFS) does not extend to comprehensive central and general government data, but periodicity recommendations across all data categories are fully met or exceeded. Likewise, with few exceptions, FYR Macedonia’s macroeconomic statistics are disseminated within the periods recommended under the GDDS.

3. In applying the IMF’s Data Quality Assessment Framework (DQAF), the mission arrived at these main conclusions as follows below.

4. Prerequisites of quality and assurances of integrity:

• The State Statistical Office (SSO) operates in a favorable legal and institutional environment. The requirement for enterprises to respond to industrial surveys could be better enforced. Although resources are adequate for the national accounts, there is a critical shortage of personnel for the compilation of price indices. The relevance of statistical series is monitored by informing the Statistical Council and meeting with users. Appropriate quality management processes are in place, particularly for the national accounts. The SSO has fostered an environment of professionalism, transparency, and adherence to ethical standards.

• The Ministry of Finance (MOF) provides an appropriate institutional environment for compiling budgetary transaction data but not for compiling statistics for general government. Staff and computing resources are insufficient to satisfactorily compile consolidated GFS on stocks and flows in accordance with the Government Finance Statistics Manual 2001 (GFSM 2001). The relevance of fiscal data suffers from a lack of consultation with users. MOF officials are objective and impartial, following laws and MOF codes. The transparency of fiscal data could be enhanced by publishing information on practices and procedures for data compilation and dissemination. A strong MOF culture for maintaining ethical standards discourages outside interference.

• The National Bank of the Republic of Macedonia (NBRM) has a legal and institutional environment that supports compilation and dissemination of monetary and balance of payments statistics. Resources are adequate, and the relevance of statistics is ensured by extensive informal contact with users. Processes are in place for monitoring quality. The statutory independence of the NBRM and the recruitment of qualified staff promote professionalism. NBRM achieves transparency by publishing relevant legislation and providing data simultaneously to all users. The Code of Conduct establishes ethical standards.

5. Methodological soundness is upheld usually in all statistical areas. Some deviations from international standards exist in the details of concepts and definitions, scope, and sectorization. Notable is the lack of consolidated government finance statistics (GFS) for general government. The basis for recording is appropriate for GFS, but international standards are not fully applied in national accounts, price statistics, monetary, and balance of payments statistics.

6. Accuracy and reliability are generally addressed, although some deficiencies were observed. Source data have some shortcomings in most statistics. Suitable processes for assessment and validation of source, intermediate, and output data are in place in most cases. Deficiencies in statistical techniques were observed in deflation methods for the national accounts and application of the index formula for prices. Revision studies could be developed further, particularly for the producer price index and GFS.

7. Serviceability of disseminated macroeconomic statistics is for the most part adequate. The frequency and timeliness of disseminated data typically follow GDDS recommendations. Compiling agencies could make additional joint efforts to ensure consistency of macroeconomic data. Shortcomings exist in revision policy and practice, and revisions are not always identified or explained to the public.

8. Accessibility. Significant efforts have been made to improve the accessibility of macroeconomic data. For example, the SSO and NBRM have disseminated advance calendars for data releases. Published methodological notes and other metadata are sometimes incomplete.

9. Section II of this report provides a summary assessment of data quality by agency and dataset. This is followed by staff recommendations in Section III. The authorities’ response to this report and a volume of detailed assessments are presented in separate documents.

II. Assessment by Agency and Dataset

10. An assessment of the quality of six macroeconomic datasets—national accounts, consumer price index, producer price index, government finance, monetary, and balance of payments statistics—was conducted using the Data Quality Assessment Framework (DQAF) and a four-point rating scale (Table 1). The DQAF covers the various dimensions of data quality. Assessments of the prerequisites of data quality and the assurances of integrity (Dimensions “0” and “1” of the DQAF) are documented for each data-producing agency in Tables 2a–c. The assessments of methodological soundness, accuracy and reliability, serviceability, and accessibility (Dimensions “2” to “5” of the DQAF) are presented for each dataset in Tables 3a–f.

Table 1

FYR Macedonia: Data Quality Assessment Framework July 2003—Summary Results

Practice observed: current practices generally in observance meet or achieve the objectives of DQAF internationally accepted statistical practices without any significant deficiencies.Practice largely observed: some departures, but these are not seen as sufficient to raise doubts about the authorities’ ability to observe the DQAF practices. Practice largely not observed: significant departures and the authorities will need to take significant action to achieve observance. Practice not observed: most DQAF practices are not met. Not applicable: used only exceptionally when statistical practices do not apply to a country’s circumstances.

Table 1

FYR Macedonia: Data Quality Assessment Framework July 2003—Summary Results

Key to symbols: O = Practice Observed; LO = Practice Largely Observed; LNO =Practice Largely Not Observed; NO = Practice Not Observed; NA = Not Applicable
Datasets		National Accounts	Consumer Price Index	Producer Price Index	Government Finance Statistics	Monetary Statistics	Balance of Payments Statistics
Dimensions/Elements
0. Prerequisites of quality
0.1	Legal and institutional environment	LO	O	LO	LO	O	O
0.2	Resources	O	LNO	LNO	LO	O	O
0.3	Relevance	O	O	O	LO	O	O
0.4	Other quality management	O	LO	LO	LO	O	O
1. Assurances of integrity
1.1	Professionalism	O	O	O	O	O	O
1.2	Transparency	O	LO	LO	LO	O	O
1.3	Ethical standards	O	O	O	O	O	O
2. Methodological soundness
2.1	Concepts and definitions	O	O	LO	LO	O	O
2.2	Scope	LO	O	LO	LNO	LO	LO
2.3	Classification/sectorization	O	O	O	LO	LO	O
2.4	Basis for recording	LO	LO	O	O	O	LO
3. Accuracy and reliability
3.1	Source data	LO	LO	LO	LO	O	LO
3.2	Assessment of source data	O	O	LO	LO	LO	O
3.3	Statistical techniques	LNO	LNO	LNO	LO	O	LO
3.4	Assessment and validation of intermediate data and statistical outputs	O	O	O	LO	O	O
3.5	Revision studies	O	LO	LNO	LNO	O	LO
4. Serviceability
4.1	Periodicity and timeliness	LO	O	O	O	O	O
4.2	Consistency	O	O	O	LO	LO	O
4.3	Revision policy and practice	LO	LO	LO	LNO	LO	LO
5. Accessibility
5.1	Data accessibility	O	O	O	LNO	O	O
5.2	Metadata accessibility	LO	O	LO	LO	O	O
5.3	Assistance to users	O	O	O	LO	O	O

Practice observed: current practices generally in observance meet or achieve the objectives of DQAF internationally accepted statistical practices without any significant deficiencies.Practice largely observed: some departures, but these are not seen as sufficient to raise doubts about the authorities’ ability to observe the DQAF practices. Practice largely not observed: significant departures and the authorities will need to take significant action to achieve observance. Practice not observed: most DQAF practices are not met. Not applicable: used only exceptionally when statistical practices do not apply to a country’s circumstances.

View Table

Table 1

FYR Macedonia: Data Quality Assessment Framework July 2003—Summary Results

Key to symbols: O = Practice Observed; LO = Practice Largely Observed; LNO =Practice Largely Not Observed; NO = Practice Not Observed; NA = Not Applicable
Datasets		National Accounts	Consumer Price Index	Producer Price Index	Government Finance Statistics	Monetary Statistics	Balance of Payments Statistics
Dimensions/Elements
0. Prerequisites of quality
0.1	Legal and institutional environment	LO	O	LO	LO	O	O
0.2	Resources	O	LNO	LNO	LO	O	O
0.3	Relevance	O	O	O	LO	O	O
0.4	Other quality management	O	LO	LO	LO	O	O
1. Assurances of integrity
1.1	Professionalism	O	O	O	O	O	O
1.2	Transparency	O	LO	LO	LO	O	O
1.3	Ethical standards	O	O	O	O	O	O
2. Methodological soundness
2.1	Concepts and definitions	O	O	LO	LO	O	O
2.2	Scope	LO	O	LO	LNO	LO	LO
2.3	Classification/sectorization	O	O	O	LO	LO	O
2.4	Basis for recording	LO	LO	O	O	O	LO
3. Accuracy and reliability
3.1	Source data	LO	LO	LO	LO	O	LO
3.2	Assessment of source data	O	O	LO	LO	LO	O
3.3	Statistical techniques	LNO	LNO	LNO	LO	O	LO
3.4	Assessment and validation of intermediate data and statistical outputs	O	O	O	LO	O	O
3.5	Revision studies	O	LO	LNO	LNO	O	LO
4. Serviceability
4.1	Periodicity and timeliness	LO	O	O	O	O	O
4.2	Consistency	O	O	O	LO	LO	O
4.3	Revision policy and practice	LO	LO	LO	LNO	LO	LO
5. Accessibility
5.1	Data accessibility	O	O	O	LNO	O	O
5.2	Metadata accessibility	LO	O	LO	LO	O	O
5.3	Assistance to users	O	O	O	LO	O	O

Practice observed: current practices generally in observance meet or achieve the objectives of DQAF internationally accepted statistical practices without any significant deficiencies.Practice largely observed: some departures, but these are not seen as sufficient to raise doubts about the authorities’ ability to observe the DQAF practices. Practice largely not observed: significant departures and the authorities will need to take significant action to achieve observance. Practice not observed: most DQAF practices are not met. Not applicable: used only exceptionally when statistical practices do not apply to a country’s circumstances.

Table 2a.

FYR Macedonia: Assessment of Data Quality—Dimensions 0 and 1: State Statistical Office

Table 2a.

FYR Macedonia: Assessment of Data Quality—Dimensions 0 and 1: State Statistical Office

0. Prerequisites of quality

1. Assurances of integrity

Legal and institutional environment. The State Statistics Act of 1997 assigns to the State Statistical Office (SSO) a leadership role in the compilation and coordination of the official statistics of the country. Coordination of system-wide statistical plans is based on a five-year annual statistical plan that helps to articulate short-term and medium-term objectives and the annual “Programme of Statistical Research” prepared under the guidance of the Statistical Council of the Republic of Macedonia, an advisory body appointed by the Parliament. The SSO is responsible for setting the standards of classification and methodology to be used in the compilation of the statistics. Data sharing and coordination among data-producing agencies is effective and defined in detail within the statistical program. The law guarantees the confidentiality of the data used for statistical purposes and establishes adequate penalties for noncompliance. However, the SSO faces a problem of low response to business surveys that affects the quality of the derived statistics. Resources. The SSO devotes sufficient resources to the compilation of the national accounts statistics. However, there is an evident lack of staff resources employed in the compilation of the price indices. This lack of resources compromises the capability to undertake development work in these statistics, although the routine compilation work is efficiently performed with the systematization of the work and computerized system of data processing. Relevance. The SSO monitors users’ needs on a current basis by inviting users to provide comments on the statistics through its website and through meetings, and by following up on data requests to the agency. It also closely follows developments regarding international standards, particularly the guidelines of EUROSTAT. Other quality management. The SSO closely collaborates with EUROSTAT in implementing international standards for the compilation of statistics. The SSO monitors the response rates to its surveys and implements measures to improve the statistics but does not invoke penalties for noncompliance. Although quality management processes are generally functioning well, support for the price index program could be increased.

Professionalism. The Law on Statistics states that the SSO is an independent professional administrative organization with its own legal status. No external agencies may interfere with the compilation or dissemination of the data produced by the SSO. Only statistical considerations are taken into account when choosing sources of data and statistical techniques, as well as in making decisions about dissemination of the data. The SSO is entitled to comment on misuse of its statistics and does so, as needed. Transparency. References to the Law are provided in the questionnaires employed by the SSO in its data collection program. The complete text of the Law is reproduced in Macedonian and English on the SSO’s website. There is no internal government access to the national accounts statistics prior to their release to the public, but the statistics on the Consumer Price Index (CPI) and the Producer Price Index (PPI) are made available to the government one day before their release. This practice has not been publicly identified. The SSO clearly identifies its products as such and requests attribution when its data are reproduced by others. Ethical standards. Guidelines and standards for staff behavior are posted on the SSO intranet. As public servants, SSO staff members are required to adhere to the norms of conduct as provided by the Law on Civil Servants.

View Table

Table 2a.

FYR Macedonia: Assessment of Data Quality—Dimensions 0 and 1: State Statistical Office

0. Prerequisites of quality

1. Assurances of integrity

Legal and institutional environment. The State Statistics Act of 1997 assigns to the State Statistical Office (SSO) a leadership role in the compilation and coordination of the official statistics of the country. Coordination of system-wide statistical plans is based on a five-year annual statistical plan that helps to articulate short-term and medium-term objectives and the annual “Programme of Statistical Research” prepared under the guidance of the Statistical Council of the Republic of Macedonia, an advisory body appointed by the Parliament. The SSO is responsible for setting the standards of classification and methodology to be used in the compilation of the statistics. Data sharing and coordination among data-producing agencies is effective and defined in detail within the statistical program. The law guarantees the confidentiality of the data used for statistical purposes and establishes adequate penalties for noncompliance. However, the SSO faces a problem of low response to business surveys that affects the quality of the derived statistics. Resources. The SSO devotes sufficient resources to the compilation of the national accounts statistics. However, there is an evident lack of staff resources employed in the compilation of the price indices. This lack of resources compromises the capability to undertake development work in these statistics, although the routine compilation work is efficiently performed with the systematization of the work and computerized system of data processing. Relevance. The SSO monitors users’ needs on a current basis by inviting users to provide comments on the statistics through its website and through meetings, and by following up on data requests to the agency. It also closely follows developments regarding international standards, particularly the guidelines of EUROSTAT. Other quality management. The SSO closely collaborates with EUROSTAT in implementing international standards for the compilation of statistics. The SSO monitors the response rates to its surveys and implements measures to improve the statistics but does not invoke penalties for noncompliance. Although quality management processes are generally functioning well, support for the price index program could be increased.

Professionalism. The Law on Statistics states that the SSO is an independent professional administrative organization with its own legal status. No external agencies may interfere with the compilation or dissemination of the data produced by the SSO. Only statistical considerations are taken into account when choosing sources of data and statistical techniques, as well as in making decisions about dissemination of the data. The SSO is entitled to comment on misuse of its statistics and does so, as needed. Transparency. References to the Law are provided in the questionnaires employed by the SSO in its data collection program. The complete text of the Law is reproduced in Macedonian and English on the SSO’s website. There is no internal government access to the national accounts statistics prior to their release to the public, but the statistics on the Consumer Price Index (CPI) and the Producer Price Index (PPI) are made available to the government one day before their release. This practice has not been publicly identified. The SSO clearly identifies its products as such and requests attribution when its data are reproduced by others. Ethical standards. Guidelines and standards for staff behavior are posted on the SSO intranet. As public servants, SSO staff members are required to adhere to the norms of conduct as provided by the Law on Civil Servants.

Table 2b.

FYR Macedonia: Assessment of Data Quality—Dimensions 0 and 1: Ministry of Finance

Table 2b.

FYR Macedonia: Assessment of Data Quality—Dimensions 0 and 1: Ministry of Finance

0. Prerequisites of quality

1. Assurances of integrity

Legal and institutional environment. The MOF provides an appropriate institutional environment for compiling budgetary transactions data but not for compiling GFS for general government. Treasury collects, processes, and disseminates accounting data on transactions only of certain government entities. MOF source data on local governments are not shared with the fiscal data compiler. Resources. At current staffing levels and commitments and computing capabilities, Treasury cannot satisfactorily compile consolidated GFS on general government stocks and flows in accord with GFSM 2001, and a capability for such activity can be expected only with appropriate resource enhancements and training. Relevance. A limited structured and periodic process of consultation takes place with policy departments, ministries, and other data users, such as academia, the press, and other private sector representatives, to review the usefulness of fiscal data and to identify emerging data requirements, such as the need for reported data on all financial stocks and flows of general government. Other quality management. The accounting and auditing systems for general government have an embedded mechanism of checks to help ensure quality of fiscal data. However, routine feedback from public users on data quality and on data needs is not sought.

Professionalism. The Law on Civil Servants assists in ensuring impartiality on the part of civil servants. It mandates that a civil servant act impartially and without influence of political parties, not be guided by his/her own political beliefs or personal financial interests, and refrain from misuse of authority. Transparency. Practices and procedures for data compilation and dissemination are not usually reported. Internal government access to reported fiscal data prior to release is not made public. Data released to the public are not always identified as the data-compiling agency’s product. Ethical standards. Aside from the Law on Civil Servants, the Code for Behavior of Employees of the MOF mandates professionalism, objectivity, confidentiality, and political neutrality in staff work. Also, a strong culture for maintaining ethical standards discourages political interference. But there is no documentation that MOF management acknowledges its status as a role model and is vigilant in following ethical standards.

View Table

Table 2b.

FYR Macedonia: Assessment of Data Quality—Dimensions 0 and 1: Ministry of Finance

0. Prerequisites of quality

1. Assurances of integrity

Legal and institutional environment. The MOF provides an appropriate institutional environment for compiling budgetary transactions data but not for compiling GFS for general government. Treasury collects, processes, and disseminates accounting data on transactions only of certain government entities. MOF source data on local governments are not shared with the fiscal data compiler. Resources. At current staffing levels and commitments and computing capabilities, Treasury cannot satisfactorily compile consolidated GFS on general government stocks and flows in accord with GFSM 2001, and a capability for such activity can be expected only with appropriate resource enhancements and training. Relevance. A limited structured and periodic process of consultation takes place with policy departments, ministries, and other data users, such as academia, the press, and other private sector representatives, to review the usefulness of fiscal data and to identify emerging data requirements, such as the need for reported data on all financial stocks and flows of general government. Other quality management. The accounting and auditing systems for general government have an embedded mechanism of checks to help ensure quality of fiscal data. However, routine feedback from public users on data quality and on data needs is not sought.

Professionalism. The Law on Civil Servants assists in ensuring impartiality on the part of civil servants. It mandates that a civil servant act impartially and without influence of political parties, not be guided by his/her own political beliefs or personal financial interests, and refrain from misuse of authority. Transparency. Practices and procedures for data compilation and dissemination are not usually reported. Internal government access to reported fiscal data prior to release is not made public. Data released to the public are not always identified as the data-compiling agency’s product. Ethical standards. Aside from the Law on Civil Servants, the Code for Behavior of Employees of the MOF mandates professionalism, objectivity, confidentiality, and political neutrality in staff work. Also, a strong culture for maintaining ethical standards discourages political interference. But there is no documentation that MOF management acknowledges its status as a role model and is vigilant in following ethical standards.

Table 2c.

FYR Macedonia: Assessment of Data Quality—Dimensions 0 and 1: National Bank of the Republic of Macedonia

Table 2c.

FYR Macedonia: Assessment of Data Quality—Dimensions 0 and 1: National Bank of the Republic of Macedonia

0. Prerequisites of quality

1. Assurances of integrity

Legal and institutional environment. The NBRM’s responsibility for monetary and balance of payments statistics is clearly established in the relevant legislation. Data sharing arrangements are made with other departments of the NBRM and the Customs Office and are effective. The legislation includes compulsory reporting and protects the confidentiality of individual data, and these provisions are communicated to data suppliers. Resources. Staff, computing, and financing are broadly adequate. Changes are made on a continuing basis to bring about more efficient use of resources. For example, increasing use is being made of electronic supply of data. Relevance is assured by extensive informal contact with users and by following the recent international standards, namely the Monetary and Financial Statistics Manual, the fifth edition of the Balance of Payments Manual, and European Union Standards. Other quality management processes are in place for monitoring quality and making continuing improvements to statistics. The NBRM shows a recognition of trade-offs, for example, by requiring less detailed information for small balance of payments transactions.

Professionalism. Professionalism is ensured by a range of measures. The NBRM legislation gives independence to the governor, council, and NBRM. The Code of Conduct for staff emphasizes professionalism and objectivity. Professional competence plays a key role in recruitment and promotion. Training and professional development is provided. Choices of statistical methodology are based solely on statistical considerations. The NBRM is able to comment on public misuse of statistics and has done so. Transparency is achieved by making laws and procedures available to the public, releasing data simultaneously to interested parties, and identifying statistics as NBRM products. Notice of major methodological changes has been given in advance. Ethical standards for staff are established in the Code of Conduct communicated to all NBRM staff. The Code covers conflict of interest, outside employment, and employment after leaving the NBRM.

View Table

Table 2c.

FYR Macedonia: Assessment of Data Quality—Dimensions 0 and 1: National Bank of the Republic of Macedonia

0. Prerequisites of quality

1. Assurances of integrity

Legal and institutional environment. The NBRM’s responsibility for monetary and balance of payments statistics is clearly established in the relevant legislation. Data sharing arrangements are made with other departments of the NBRM and the Customs Office and are effective. The legislation includes compulsory reporting and protects the confidentiality of individual data, and these provisions are communicated to data suppliers. Resources. Staff, computing, and financing are broadly adequate. Changes are made on a continuing basis to bring about more efficient use of resources. For example, increasing use is being made of electronic supply of data. Relevance is assured by extensive informal contact with users and by following the recent international standards, namely the Monetary and Financial Statistics Manual, the fifth edition of the Balance of Payments Manual, and European Union Standards. Other quality management processes are in place for monitoring quality and making continuing improvements to statistics. The NBRM shows a recognition of trade-offs, for example, by requiring less detailed information for small balance of payments transactions.

Professionalism. Professionalism is ensured by a range of measures. The NBRM legislation gives independence to the governor, council, and NBRM. The Code of Conduct for staff emphasizes professionalism and objectivity. Professional competence plays a key role in recruitment and promotion. Training and professional development is provided. Choices of statistical methodology are based solely on statistical considerations. The NBRM is able to comment on public misuse of statistics and has done so. Transparency is achieved by making laws and procedures available to the public, releasing data simultaneously to interested parties, and identifying statistics as NBRM products. Notice of major methodological changes has been given in advance. Ethical standards for staff are established in the Code of Conduct communicated to all NBRM staff. The Code covers conflict of interest, outside employment, and employment after leaving the NBRM.

Table 3a.

FYR Macedonia: Assessment of Data Quality—Dimensions 2 to 5: National Accounts

Table 3a.

FYR Macedonia: Assessment of Data Quality—Dimensions 2 to 5: National Accounts

2. Methodological soundness	3. Accuracy and reliability	4. Serviceability	5. Accessibility
Concepts and definitions. The national accounts are compiled following the conceptual framework of the European System of Accounts 1995 (1995 ESA). Scope. All tables and accounts recommended by the GDDS are compiled. Quarterly estimates of GDP at constant prices by production are also available but were not assessed. A few discrepancies with the international standards exist in the scope of the production and assets boundaries. Classification/sectorization. Institutional units, transactions and other flows are in accordance with the 1995 ESA. The Classification of Products by Activity (CPA) is used in the classification of products, and the Classification of Individual Consumption by Purpose (COICOP) is used to classify household consumption. The Classification of Functions of Government (COFOG) has not yet been implemented for the classification of general government expenditures. Basis of recording. Value added, and all components of GDP estimates by expenditure are in line with the international standards of valuation. All transactions are recorded on an accrual basis with the exception of general government income and expenditure (cash basis). Transactions between establishments of the same enterprise are deemed not to be recorded on a gross basis.	Source data. A suitable statistical register has not yet been completed. The SSO has a regular program with monthly, quarterly, and annual surveys covering a wide range of economic activities although not all results are suitable for national accounts compilation. In practice, most of the compilation of the national accounts estimates at current prices, and particularly GDP, relies on financial statements of enterprises obtained from administrative databases. Assessment of source data. Sampling errors are calculated for the household survey and other surveys based on random sampling methods. The data used in the compilation of the national accounts are carefully assessed, and the best available sources are used in their compilation. Statistical techniques for the compilation of volume measures of value added in some activities and for measuring taxes on products are not adequate. No inventory valuation adjustment is made. Assessment and validation of intermediate data and statistical outputs. Estimates are validated at all stages of processing. No discrepancy is shown between GDP estimates using different approaches. Revision studies. The series have been revised once in the year 2001. The causes of revisions were documented and used to inform the statistical processes.	Periodicity and timeliness. FYR Macedonia exceeds GDDS recommendations in periodicity. Timeliness falls slightly short of GDDS standards. Consistency. Data are consistent internally and over time for a long period. The break in the series in 1997 is explained in methodological notes that were widely disseminated. All components for the rest of the world account are consistent with the balance of payments compiled by the NBRM, except expenditures of nonresidents. Revision policy and practice. There is no explicit revision policy established, although the practice for annual regular revisions is known. Causes of revisions to the series in 2001were published and explained to users.	Data accessibility. National account statistics are disseminated in the publications with sufficient level of detail, although they lack charts. Statistics are released simultaneously to all users in accordance with a preannounced schedule posted on the website of the SSO. The public is informed of the statistics being released and of the procedures to access the data through the publications of the SSO. Metadata accessibility. Metadata are posted on the GDDS bulletin board of the IMF, but not on the website of the SSO. Special series of publications on methodology are available, and methodological notes are included in the current publications of the SSO. However, there are no comprehensive metadata easily available to the public beyond the GDDS metadata. Assistance to users is generally good. All statistical publications contain information on how to contact the SSO (telephone and facsimile numbers, website address, address, etc.). No contact name is given, except in the GDDS metadata.

View Table

Table 3a.

FYR Macedonia: Assessment of Data Quality—Dimensions 2 to 5: National Accounts

2. Methodological soundness	3. Accuracy and reliability	4. Serviceability	5. Accessibility
Concepts and definitions. The national accounts are compiled following the conceptual framework of the European System of Accounts 1995 (1995 ESA). Scope. All tables and accounts recommended by the GDDS are compiled. Quarterly estimates of GDP at constant prices by production are also available but were not assessed. A few discrepancies with the international standards exist in the scope of the production and assets boundaries. Classification/sectorization. Institutional units, transactions and other flows are in accordance with the 1995 ESA. The Classification of Products by Activity (CPA) is used in the classification of products, and the Classification of Individual Consumption by Purpose (COICOP) is used to classify household consumption. The Classification of Functions of Government (COFOG) has not yet been implemented for the classification of general government expenditures. Basis of recording. Value added, and all components of GDP estimates by expenditure are in line with the international standards of valuation. All transactions are recorded on an accrual basis with the exception of general government income and expenditure (cash basis). Transactions between establishments of the same enterprise are deemed not to be recorded on a gross basis.	Source data. A suitable statistical register has not yet been completed. The SSO has a regular program with monthly, quarterly, and annual surveys covering a wide range of economic activities although not all results are suitable for national accounts compilation. In practice, most of the compilation of the national accounts estimates at current prices, and particularly GDP, relies on financial statements of enterprises obtained from administrative databases. Assessment of source data. Sampling errors are calculated for the household survey and other surveys based on random sampling methods. The data used in the compilation of the national accounts are carefully assessed, and the best available sources are used in their compilation. Statistical techniques for the compilation of volume measures of value added in some activities and for measuring taxes on products are not adequate. No inventory valuation adjustment is made. Assessment and validation of intermediate data and statistical outputs. Estimates are validated at all stages of processing. No discrepancy is shown between GDP estimates using different approaches. Revision studies. The series have been revised once in the year 2001. The causes of revisions were documented and used to inform the statistical processes.	Periodicity and timeliness. FYR Macedonia exceeds GDDS recommendations in periodicity. Timeliness falls slightly short of GDDS standards. Consistency. Data are consistent internally and over time for a long period. The break in the series in 1997 is explained in methodological notes that were widely disseminated. All components for the rest of the world account are consistent with the balance of payments compiled by the NBRM, except expenditures of nonresidents. Revision policy and practice. There is no explicit revision policy established, although the practice for annual regular revisions is known. Causes of revisions to the series in 2001were published and explained to users.	Data accessibility. National account statistics are disseminated in the publications with sufficient level of detail, although they lack charts. Statistics are released simultaneously to all users in accordance with a preannounced schedule posted on the website of the SSO. The public is informed of the statistics being released and of the procedures to access the data through the publications of the SSO. Metadata accessibility. Metadata are posted on the GDDS bulletin board of the IMF, but not on the website of the SSO. Special series of publications on methodology are available, and methodological notes are included in the current publications of the SSO. However, there are no comprehensive metadata easily available to the public beyond the GDDS metadata. Assistance to users is generally good. All statistical publications contain information on how to contact the SSO (telephone and facsimile numbers, website address, address, etc.). No contact name is given, except in the GDDS metadata.

Table 3b.

FYR Macedonia: Assessment of Data Quality—Dimensions 2 to 5: Consumer Price Index

Table 3b.

FYR Macedonia: Assessment of Data Quality—Dimensions 2 to 5: Consumer Price Index

2. Methodological soundness	3. Accuracy and reliability	4. Serviceability	5. Accessibility
Concepts and definitions used are consistent with the System of National Accounts 1993 (1993 SNA) and the new Consumer Price Index Manual. There is an excellent level of detail for both goods and services. Scope. The consumer price index (CPI) weights cover both urban and rural households of all types and all income levels, including the agricultural sector. All types of expenditures are reflected, including those made to the informal sector. Food produced for own consumption is also included. Classification. The CPI is tabulated using both a national classification based on that of the former Socialist Federal Republic of Yugoslavia and the COICOP, which is the recommended international standard. Basis for recording. Both prices and weights are determined on an accrual basis using market and/or transaction values. However, sales of durable goods such as vehicles are not netted out from purchases for the calculation of market basket weights.	Source data. In general, the source data for the CPI are excellent. However, the new Household Budget Survey (HBS) only collects diary data and does not include a question on the estimation of imputed rent for owner-occupied dwellings. A recall module to collect more complete data on purchases of durable goods as well as recurring monthly expenses is also lacking. Assessment of source data. Both price and weight source data for the CPI are carefully assessed for atypical values, consistency, nonresponse, and incomplete data. Statistical techniques. There is a methodological problem with regard to the application of the index formula that could potentially cause a bias in the index. The treatment of missing prices could also be improved. Assessment and validation of intermediate data and statistical outputs. The CPI is compared for consistency with the Retail Price Index (RPI), the PPI, and relevant data from other sources such as agricultural price data. Revision studies. Although studies are made informally for major revisions, no formal studies are prepared and published except for those on the HBS results that are used for estimating the new CPI market basket weights.	Periodicity and timeliness. The monthly CPI is published within three days of the end of the reference month, thereby meeting GDDS standards for periodicity and timeliness. Consistency. The CPI is generally consistent over time with the exception of a change in the index calculation methodology that was introduced in 2000. This change was documented at the time the revised index was published. Revision policy and practice. CPI weight revisions follow a regular, well established five-year schedule. This is possible because of the availability of expenditure data from the continuous HBS. Although revision studies are published for the HBS, no studies are published for the CPI.	Data accessibility. The CPI is disseminated in a number of different media including a press release, a monthly bulletin, the Internet, and a recorded phone message. Short-term trends in the index are well presented; however, the presentation of long-term services may be improved. Metadata accessibility. CPI metadata are available in both summary and detail. Assistance to users. In general, assistance to users is well handled. However, additional data are provided to users only on the basis of a written request to the SSO Information Department.

View Table

Table 3b.

FYR Macedonia: Assessment of Data Quality—Dimensions 2 to 5: Consumer Price Index

2. Methodological soundness	3. Accuracy and reliability	4. Serviceability	5. Accessibility
Concepts and definitions used are consistent with the System of National Accounts 1993 (1993 SNA) and the new Consumer Price Index Manual. There is an excellent level of detail for both goods and services. Scope. The consumer price index (CPI) weights cover both urban and rural households of all types and all income levels, including the agricultural sector. All types of expenditures are reflected, including those made to the informal sector. Food produced for own consumption is also included. Classification. The CPI is tabulated using both a national classification based on that of the former Socialist Federal Republic of Yugoslavia and the COICOP, which is the recommended international standard. Basis for recording. Both prices and weights are determined on an accrual basis using market and/or transaction values. However, sales of durable goods such as vehicles are not netted out from purchases for the calculation of market basket weights.	Source data. In general, the source data for the CPI are excellent. However, the new Household Budget Survey (HBS) only collects diary data and does not include a question on the estimation of imputed rent for owner-occupied dwellings. A recall module to collect more complete data on purchases of durable goods as well as recurring monthly expenses is also lacking. Assessment of source data. Both price and weight source data for the CPI are carefully assessed for atypical values, consistency, nonresponse, and incomplete data. Statistical techniques. There is a methodological problem with regard to the application of the index formula that could potentially cause a bias in the index. The treatment of missing prices could also be improved. Assessment and validation of intermediate data and statistical outputs. The CPI is compared for consistency with the Retail Price Index (RPI), the PPI, and relevant data from other sources such as agricultural price data. Revision studies. Although studies are made informally for major revisions, no formal studies are prepared and published except for those on the HBS results that are used for estimating the new CPI market basket weights.	Periodicity and timeliness. The monthly CPI is published within three days of the end of the reference month, thereby meeting GDDS standards for periodicity and timeliness. Consistency. The CPI is generally consistent over time with the exception of a change in the index calculation methodology that was introduced in 2000. This change was documented at the time the revised index was published. Revision policy and practice. CPI weight revisions follow a regular, well established five-year schedule. This is possible because of the availability of expenditure data from the continuous HBS. Although revision studies are published for the HBS, no studies are published for the CPI.	Data accessibility. The CPI is disseminated in a number of different media including a press release, a monthly bulletin, the Internet, and a recorded phone message. Short-term trends in the index are well presented; however, the presentation of long-term services may be improved. Metadata accessibility. CPI metadata are available in both summary and detail. Assistance to users. In general, assistance to users is well handled. However, additional data are provided to users only on the basis of a written request to the SSO Information Department.

Table 3c.

FYR Macedonia: Assessment of Data Quality—Dimensions 2 to 5: Producer Price Index

Table 3c.

FYR Macedonia: Assessment of Data Quality—Dimensions 2 to 5: Producer Price Index

2. Methodological soundness	3. Accuracy and reliability	4. Serviceability	5. Accessibility
Concepts and definitions. In general, the PPI is based on concepts and definitions consistent with the 1993 SNA and the new PPI Manual. However, tabulations are made exclusively by commodity aggregation. No tabulations are made by industrial classification (economic activity). Scope. The weights for the PPI cover all production sold to the domestic market. Since production sold for export is not included, the scope of the index does not completely conform to international standards. Classification. The SSO has moved completely to European standards for the classification within the PPI. Products are classified by a ten-digit extension of the List of Products of the European Communities (PRODCOM) and economic activities are classified by a one-digit extension of the Statistical Classification of Economic Activities in the European Communities (NACE). Basis for recording for the PPI conforms to international standards. The index employs factory-gate market prices (excluding taxes), and all values are reported on an accrual basis.	Source data. In general, the source data for the PPI are good, but the coverage of small private enterprises needs to be improved. Assessment of source data. Although the source data for the PPI are thoroughly checked for accuracy, little statistical analysis is conducted for the industrial survey upon which the enterprise sample for the PPI is based. Statistical techniques. There is a methodological problem with regard to the application of the index formula that could potentially cause a bias in the index. The treatment of missing prices could also be improved. Assessment and validation of intermediate data and statistical outputs. The PPI is compared for consistency with the RPI, the CPI, and relevant data from other sources. Revision studies. No formal revision studies are carried out for the PPI.	Periodicity and timeliness. The monthly PPI is published within fifteen days of the end of the reference month, thereby meeting GDDS standards for periodicity and timeliness. Consistency. The PPI is generally consistent over time with the exception of a change in index calculation methodology that was introduced in 2000. This change was documented at the time the revised index was published. Revision policy and practice. PPI weight revisions follow a regular, well established, five-year schedule based on data from the annual industrial survey; however, no formal revision studies are carried out and published.	Data accessibility. The PPI is disseminated in a number of different media including a press release, a monthly bulletin, the Internet, and a recorded phone message. Short-term trends in the index are well presented; however, the presentation of long-term services may be improved. Metadata accessibility. Metadata on the PPI are only available in a very summarized format. Assistance to users. In general, assistance to users is well handled. However, additional data are provided to users only on the basis of a written request to the SSO Information Department.

View Table

Table 3c.

FYR Macedonia: Assessment of Data Quality—Dimensions 2 to 5: Producer Price Index

2. Methodological soundness	3. Accuracy and reliability	4. Serviceability	5. Accessibility
Concepts and definitions. In general, the PPI is based on concepts and definitions consistent with the 1993 SNA and the new PPI Manual. However, tabulations are made exclusively by commodity aggregation. No tabulations are made by industrial classification (economic activity). Scope. The weights for the PPI cover all production sold to the domestic market. Since production sold for export is not included, the scope of the index does not completely conform to international standards. Classification. The SSO has moved completely to European standards for the classification within the PPI. Products are classified by a ten-digit extension of the List of Products of the European Communities (PRODCOM) and economic activities are classified by a one-digit extension of the Statistical Classification of Economic Activities in the European Communities (NACE). Basis for recording for the PPI conforms to international standards. The index employs factory-gate market prices (excluding taxes), and all values are reported on an accrual basis.	Source data. In general, the source data for the PPI are good, but the coverage of small private enterprises needs to be improved. Assessment of source data. Although the source data for the PPI are thoroughly checked for accuracy, little statistical analysis is conducted for the industrial survey upon which the enterprise sample for the PPI is based. Statistical techniques. There is a methodological problem with regard to the application of the index formula that could potentially cause a bias in the index. The treatment of missing prices could also be improved. Assessment and validation of intermediate data and statistical outputs. The PPI is compared for consistency with the RPI, the CPI, and relevant data from other sources. Revision studies. No formal revision studies are carried out for the PPI.	Periodicity and timeliness. The monthly PPI is published within fifteen days of the end of the reference month, thereby meeting GDDS standards for periodicity and timeliness. Consistency. The PPI is generally consistent over time with the exception of a change in index calculation methodology that was introduced in 2000. This change was documented at the time the revised index was published. Revision policy and practice. PPI weight revisions follow a regular, well established, five-year schedule based on data from the annual industrial survey; however, no formal revision studies are carried out and published.	Data accessibility. The PPI is disseminated in a number of different media including a press release, a monthly bulletin, the Internet, and a recorded phone message. Short-term trends in the index are well presented; however, the presentation of long-term services may be improved. Metadata accessibility. Metadata on the PPI are only available in a very summarized format. Assistance to users. In general, assistance to users is well handled. However, additional data are provided to users only on the basis of a written request to the SSO Information Department.

Table 3d.

FYR Macedonia: Assessment of Data Quality—Dimensions 2 to 5: Government Finance Statistics

Table 3d.

FYR Macedonia: Assessment of Data Quality—Dimensions 2 to 5: Government Finance Statistics

2. Methodological soundness	3. Accuracy and reliability	4. Serviceability	5. Accessibility
Concepts and definitions. National concepts and definitions, similar to those in GFSM 1986, are followed. No migration path from the GFSM 1986 to the GFSM 2001 methodology has been established or documented. Scope. Consolidated GFS for transactions are not compiled for general governments, even though adequate data are available. Domestic debt data for central government, while compiled, are not reported. Classification/sectorization. Most transaction categories are classified by using the methodology set out in Chapter IV of the GFSM 1986. Aggregates that do not conform to this framework are privatization receipts and grants received, which are treated in financing. Basis for recording. Transactions of central and local governments, recorded only on a cash basis, are recorded at the time of payment, in accord with GFSM 1986.	Source data. While usually adequate, national charts of accounts do not align well enough with GFS. However, most source data now exist for an adequate consolidation of data for different levels of government. Assessment of source data. All source data are not adequately assessed. No automated procedures are used to facilitate the monitoring of the accuracy of data reported by any individual government unit. Statistical techniques. Compilation procedures are not typically documented or updated periodically. Bridge tables linking 2003 and 2004 charts of accounts with GFS classification have not been constructed. Assessment and validation of intermediate data and statistical outputs. Fiscal data and other macroeconomic data, except for external debt data of the NBRM and external net borrowing, are not usually compared or reconciled. The process for validating data is not well established. Revision studies. There is no evidence in recent years that studies of data revisions are conducted even though occasional revisions occur.	Periodicity and timeliness. Budgetary central government data, except for domestic debt data, are usually available after approximately one month. While reporting is often delayed, it is within GDDS recommendation. Consistency. Fiscal data are consistent within the dataset; deficits, for example, equal financing. Classifications for monthly and annual data are the same. Fiscal and monetary reports on government deposits and their changes are not always consistent. Revision policy and practice. Reasons underlying revisions (e.g., the availability of revised source data) are not explained. Revised data are not usually identified. Data revisions are not explained.	Data accessibility. Fiscal data for major aggregates are disseminated mainly according to GFSM 1986. MOF commendably publishes a Bulletin with fiscal data at no cost, and fiscal data also are available on websites. Dissemination media are adequate. Fiscal data are released to all users at the same time. No schedule announces in advance the dates that fiscal data are released. Metadata accessibility. A comprehensive practices and procedures document is not published. Only limited methodological notes and other metadata are accessible in the MOF Bulletin and websites. Assistance to users. The MOF Bulletin identifies contact points for enquiries and identifies MOF websites with data. No catalogs of publications, documents, and other services to users are available.

View Table

Table 3d.

FYR Macedonia: Assessment of Data Quality—Dimensions 2 to 5: Government Finance Statistics

2. Methodological soundness	3. Accuracy and reliability	4. Serviceability	5. Accessibility
Concepts and definitions. National concepts and definitions, similar to those in GFSM 1986, are followed. No migration path from the GFSM 1986 to the GFSM 2001 methodology has been established or documented. Scope. Consolidated GFS for transactions are not compiled for general governments, even though adequate data are available. Domestic debt data for central government, while compiled, are not reported. Classification/sectorization. Most transaction categories are classified by using the methodology set out in Chapter IV of the GFSM 1986. Aggregates that do not conform to this framework are privatization receipts and grants received, which are treated in financing. Basis for recording. Transactions of central and local governments, recorded only on a cash basis, are recorded at the time of payment, in accord with GFSM 1986.	Source data. While usually adequate, national charts of accounts do not align well enough with GFS. However, most source data now exist for an adequate consolidation of data for different levels of government. Assessment of source data. All source data are not adequately assessed. No automated procedures are used to facilitate the monitoring of the accuracy of data reported by any individual government unit. Statistical techniques. Compilation procedures are not typically documented or updated periodically. Bridge tables linking 2003 and 2004 charts of accounts with GFS classification have not been constructed. Assessment and validation of intermediate data and statistical outputs. Fiscal data and other macroeconomic data, except for external debt data of the NBRM and external net borrowing, are not usually compared or reconciled. The process for validating data is not well established. Revision studies. There is no evidence in recent years that studies of data revisions are conducted even though occasional revisions occur.	Periodicity and timeliness. Budgetary central government data, except for domestic debt data, are usually available after approximately one month. While reporting is often delayed, it is within GDDS recommendation. Consistency. Fiscal data are consistent within the dataset; deficits, for example, equal financing. Classifications for monthly and annual data are the same. Fiscal and monetary reports on government deposits and their changes are not always consistent. Revision policy and practice. Reasons underlying revisions (e.g., the availability of revised source data) are not explained. Revised data are not usually identified. Data revisions are not explained.	Data accessibility. Fiscal data for major aggregates are disseminated mainly according to GFSM 1986. MOF commendably publishes a Bulletin with fiscal data at no cost, and fiscal data also are available on websites. Dissemination media are adequate. Fiscal data are released to all users at the same time. No schedule announces in advance the dates that fiscal data are released. Metadata accessibility. A comprehensive practices and procedures document is not published. Only limited methodological notes and other metadata are accessible in the MOF Bulletin and websites. Assistance to users. The MOF Bulletin identifies contact points for enquiries and identifies MOF websites with data. No catalogs of publications, documents, and other services to users are available.

Table 3e.

FYR Macedonia: Assessment of Data Quality—Dimensions 2 to 5: Monetary Statistics

Table 3e.

FYR Macedonia: Assessment of Data Quality—Dimensions 2 to 5: Monetary Statistics

2. Methodological soundness	3. Accuracy and reliability	4. Serviceability	5. Accessibility
Concepts and definitions used are broadly consistent with the framework for compiling monetary statistics as recommended in the Monetary and Financial Statistics Manual (MFSM). Scope is broadly in line with the MFSM guidelines. One deviation is the exclusion of savings houses from the depository corporations survey. Classification/sectorization are broadly consistent with the MFSM guidelines. One deviation is that some MFSM-recommended categories of financial assets are not separately shown in monetary statistics, such as shares and other equity and insurance technical reserves. Basis for recording is largely in accord with the MFSM guidelines. All financial assets and liabilities are valued at market price or fair value with one minor exception. The only nontradable long-term securities issued by the Bank Rehabilitation Agency, small in magnitude, are recorded at book value.	Source data are collected on a timely basis and provide the information needed for classification/sectorization in monetary statistics as recommended in the MFSM. Assessment of source data. The source data are primarily generated from accounting records of the banking sector. Processes are in place for routinely reviewing and assessing source data for accuracy and reliability. However, there is a need to review these processes to ensure their effectiveness as data inconsistencies and misclassifications have been identified by users on several occasions. Statistical techniques. Sound statistical techniques are employed in data compilation. Forms for reporting data are designed to encourage use of computer programs to facilitate prompt data processing and minimize processing errors. Assessment and validation of intermediate data and statistical outputs are conducted routinely. Statistical discrepancies and other potential problems are investigated and taken into account in future work programs. Revisions studies are carried out routinely to ensure the reliability of data revision procedures and used to inform future statistical processes.	Periodicity and timeliness meet the GDDS recommendations. Consistency is ensured by routinely checking the consistency of data on interbank positions, and maintaining consistent time series over a reasonable period of time. However, discrepancies with GFS are not routinely investigated and fully reconciled. Revision policy and practice are largely adequate. Revisions follow a regular pattern. Preliminary data and revised data are always clearly identified. One deviation is that revision studies are not made available to the public.	Data accessibility is closely in line with best international practices. Presentation of statistics is clear, dissemination format adequate, dissemination of data to all users at the same time, and an advance release calendar published. Metadata accessibility is adequate with information on underlying methodology used for compiling the published data available publicly. Detailed supplementary data are published to better meet users’ needs. Assistance to users is provided extensively through addressing users’ queries and information requests. Detailed contact information is published on the NBRM website. A catalog of the NBRM statistical publications is updated regularly and posted on the NBRM website.

View Table

Table 3e.

FYR Macedonia: Assessment of Data Quality—Dimensions 2 to 5: Monetary Statistics

2. Methodological soundness	3. Accuracy and reliability	4. Serviceability	5. Accessibility
Concepts and definitions used are broadly consistent with the framework for compiling monetary statistics as recommended in the Monetary and Financial Statistics Manual (MFSM). Scope is broadly in line with the MFSM guidelines. One deviation is the exclusion of savings houses from the depository corporations survey. Classification/sectorization are broadly consistent with the MFSM guidelines. One deviation is that some MFSM-recommended categories of financial assets are not separately shown in monetary statistics, such as shares and other equity and insurance technical reserves. Basis for recording is largely in accord with the MFSM guidelines. All financial assets and liabilities are valued at market price or fair value with one minor exception. The only nontradable long-term securities issued by the Bank Rehabilitation Agency, small in magnitude, are recorded at book value.	Source data are collected on a timely basis and provide the information needed for classification/sectorization in monetary statistics as recommended in the MFSM. Assessment of source data. The source data are primarily generated from accounting records of the banking sector. Processes are in place for routinely reviewing and assessing source data for accuracy and reliability. However, there is a need to review these processes to ensure their effectiveness as data inconsistencies and misclassifications have been identified by users on several occasions. Statistical techniques. Sound statistical techniques are employed in data compilation. Forms for reporting data are designed to encourage use of computer programs to facilitate prompt data processing and minimize processing errors. Assessment and validation of intermediate data and statistical outputs are conducted routinely. Statistical discrepancies and other potential problems are investigated and taken into account in future work programs. Revisions studies are carried out routinely to ensure the reliability of data revision procedures and used to inform future statistical processes.	Periodicity and timeliness meet the GDDS recommendations. Consistency is ensured by routinely checking the consistency of data on interbank positions, and maintaining consistent time series over a reasonable period of time. However, discrepancies with GFS are not routinely investigated and fully reconciled. Revision policy and practice are largely adequate. Revisions follow a regular pattern. Preliminary data and revised data are always clearly identified. One deviation is that revision studies are not made available to the public.	Data accessibility is closely in line with best international practices. Presentation of statistics is clear, dissemination format adequate, dissemination of data to all users at the same time, and an advance release calendar published. Metadata accessibility is adequate with information on underlying methodology used for compiling the published data available publicly. Detailed supplementary data are published to better meet users’ needs. Assistance to users is provided extensively through addressing users’ queries and information requests. Detailed contact information is published on the NBRM website. A catalog of the NBRM statistical publications is updated regularly and posted on the NBRM website.

Table 3f.

FYR Macedonia: Assessment of Data Quality—Dimensions 2 to 5: Balance of Payments Statistics

Table 3f.

FYR Macedonia: Assessment of Data Quality—Dimensions 2 to 5: Balance of Payments Statistics

2. Methodological soundness	3. Accuracy and reliability	4. Serviceability	5. Accessibility
Concepts and definitions. The conceptual framework closely follows the fifth edition of the Balance of Payments Manual (BPM5). Scope. The scope of data follows BPM5, except that reinvested earnings are not included. Classification/sectorization generally follow BPM5 principles. Basis for recording. Valuation principles are suitable, being reasonable approximations of BPM5 principles. The timing basis is generally according to time of payment, with adjustments to an accrual basis for a few major items. Goods are recorded at the time of customs clearance. Interest is recorded on a due-for-payment basis, instead of an accrual basis.	Source data are generally adequate in coverage and timeliness. An omission is that only the net value of transactions through exchange bureaus is recorded, and it is all assumed to be private current transfers. There are some gaps due to netted transactions and authorized accounts held abroad, but new surveys have been undertaken to address these problems in the near future. Reinvested earnings and aid in the form of technical assistance are not measured. There are no sources for estimates of smuggling. Assessment of source data. There is a range of checks for internal consistency, comparisons with other sources, and routine queries of large transactions. Statistical techniques. The quality of reported information is carefully assessed. The adjustment to derive imports f.o.b. is updated annually. Adjustments for some shortcomings in source data are not made. Assessment and validation of intermediate data and statistical outputs is undertaken rigorously at all stages. Revision studies. Revisions are carefully monitored and the causes investigated. Steps are taken to follow up on persistent problems. There have been no long-term studies of revision patterns.	Periodicity and timeliness are better than recommended by the GDDS. Consistency. Data are consistent internally and over time. They are consistent with monetary data, but there are some minor differences with national accounts. Revision policy and practice. A consistent revision policy is practiced. Preliminary data are identified. Revision studies for each month are available on request, but not published.	Data accessibility. Data are available in several formats and released simultaneously on the NBRM website in Macedonian and English. Additional data are available on request. A release schedule has recently been added to the NBRM website. Metadata accessibility. Metadata are available on the NBRM website. Assistance to users. Contact points are provided in all publication formats. Prompt and knowledgeable assistance is provided. A list of publications is included on the NBRM website.

View Table

Table 3f.

FYR Macedonia: Assessment of Data Quality—Dimensions 2 to 5: Balance of Payments Statistics

2. Methodological soundness	3. Accuracy and reliability	4. Serviceability	5. Accessibility
Concepts and definitions. The conceptual framework closely follows the fifth edition of the Balance of Payments Manual (BPM5). Scope. The scope of data follows BPM5, except that reinvested earnings are not included. Classification/sectorization generally follow BPM5 principles. Basis for recording. Valuation principles are suitable, being reasonable approximations of BPM5 principles. The timing basis is generally according to time of payment, with adjustments to an accrual basis for a few major items. Goods are recorded at the time of customs clearance. Interest is recorded on a due-for-payment basis, instead of an accrual basis.	Source data are generally adequate in coverage and timeliness. An omission is that only the net value of transactions through exchange bureaus is recorded, and it is all assumed to be private current transfers. There are some gaps due to netted transactions and authorized accounts held abroad, but new surveys have been undertaken to address these problems in the near future. Reinvested earnings and aid in the form of technical assistance are not measured. There are no sources for estimates of smuggling. Assessment of source data. There is a range of checks for internal consistency, comparisons with other sources, and routine queries of large transactions. Statistical techniques. The quality of reported information is carefully assessed. The adjustment to derive imports f.o.b. is updated annually. Adjustments for some shortcomings in source data are not made. Assessment and validation of intermediate data and statistical outputs is undertaken rigorously at all stages. Revision studies. Revisions are carefully monitored and the causes investigated. Steps are taken to follow up on persistent problems. There have been no long-term studies of revision patterns.	Periodicity and timeliness are better than recommended by the GDDS. Consistency. Data are consistent internally and over time. They are consistent with monetary data, but there are some minor differences with national accounts. Revision policy and practice. A consistent revision policy is practiced. Preliminary data are identified. Revision studies for each month are available on request, but not published.	Data accessibility. Data are available in several formats and released simultaneously on the NBRM website in Macedonian and English. Additional data are available on request. A release schedule has recently been added to the NBRM website. Metadata accessibility. Metadata are available on the NBRM website. Assistance to users. Contact points are provided in all publication formats. Prompt and knowledgeable assistance is provided. A list of publications is included on the NBRM website.

III. Recommendations

11. Based on the review of FYR Macedonia’s statistical practices, on discussions with the data-producing agencies and on responses from data users (summarized in Appendix III of the Detailed Assessments volume), the mission has a set of recommendations. They are designed to increase further FYR Macedonia’s adherence to internationally accepted statistical practices and would, in the mission’s view, enhance the analytical usefulness of FYR Macedonia’s statistics. Some additional technical suggestions are included in the Detailed Assessments volume.

Balance of Payments Statistics

• In conjunction with the SSO, use surveys to better understand cash transactions through exchange bureaus.

• Incorporate the results of supplementary surveys covering known data gaps, such as reinvested earnings, selected netted transactions, and authorized accounts abroad.

Table 4.

FYR Macedonia: Overview of Current Practices Regarding Coverage, Periodicity, and Timeliness of Data Compared to the Recommendations of the GDDS

Italics indicate encouraged categories.

^1/Dissemination as part of a high-frequency (e.g. monthly) publication.

Table 4.

FYR Macedonia: Overview of Current Practices Regarding Coverage, Periodicity, and Timeliness of Data Compared to the Recommendations of the GDDS

GDDS Data Category		Coverage (meets GDDS)	Periodicity		Timeliness
			GDDS	FYR Macedonia	GDDS	FYR Macedonia
Comprehensive Framework
Real sector: National Accounts		Yes	A	A	10–14 months	15 months
Fiscal sector: Central govt. operations		No	A	M	6–9 months	6 months
	General govt. operations	No	A	NA	6–9 months	NA
	Central govt. debt	No	A	M	6–9 months	6 months
Financial sector: Depository Corporations Survey		Yes	M	M	2–3 months	1 month
External sector: Balance of payments		Yes	A	M	6–9 months	75 days
Data Categories and Indicators
Real Sector
National accounts aggregates:
GDP (nominal and real)		Yes	A	A	6–9 months	11 months
Gross national income, capital formation, saving		Yes	A	A	6–9 months	12 months
Production index/indices
Manufacturing or industrial production index/indices		Yes	M	M	6 weeks	25–28 days
Primary commodity, agricultural, or other indices, as relevant		No	As relevant	NA	3 months	NA
Price indices:
Consumer price index		Yes	M	M	1–2 months	3 days
Producer price index		Yes	M	M	1–2 months	10 days
Labor market indicators:
Employment		Yes	A	A	6–9 months	5 months
Unemployment		Yes	A	A	6–9 months	5 months
Wages/earnings (all sectors)		Yes	A	M	6–9 months	30–45 days
Fiscal Sector
Central government aggregates:
Central govt. budgetary aggregates: revenue, expenditure, balance, and financing with breakdowns (debt holder, instrument, currency)		Yes	Q	M	1 quarter	1 quarter
Interest payments		Yes	Q	M	1 quarter	1 quarter
Central government debt:
Central govt. debt: domestic and foreign debt, as relevant, with appropriate breakdowns (debt holder, instrument, currency)		Yes (foreign debt only)	Q, A	M	1–2 qtrs	2 quarters
Government guaranteed debt		No	A	NA	1–2 qtrs	NA
Financial Sector
Broad money and credit aggregates		Yes	M	M	1–3 months	1 month
Central bank aggregates		Yes	M	M	1–2 months	1 month
Interest rates:
Short- and long-term govt. security rates, policy variable rate		Yes	M	D, M	1/	Yes
Money or interbank market rates and a range of deposit and lending rates		Yes	M	D, M	1/	Yes
Stock market:
Share price index, as relevant		Yes	M	D	1/	Yes
External Sector
Balance of payments aggregates		Yes	Q, A	M	6 months	75 days
Public and publicly guaranteed external debt outstanding, with maturity breakdown		Yes	Q	Q	1–2 qtrs	25 days
Public and publicly guaranteed debt service schedule		Yes	Twice yearly	M	3–6 months	25 days
Private external debt not publicly guaranteed		Yes	A	M	6–9 months	45 days
International reserves:
Gross official reserves denominated in U.S. dollars		Yes	M	M	1–4 wks	45 days
Reserve-related liabilities		No	M	NA	1–4 wks	NA
Merchandise trade:
Total exports and total imports		Yes	M	M	8 wks–3 months	30 days
Major commodity breakdowns with longer time lapse		Yes	M	M	8 wks–3 months	30 days
Exchange rates: spot rates		Yes	D	D	1/	Yes

Italics indicate encouraged categories.

^1/Dissemination as part of a high-frequency (e.g. monthly) publication.

View Table

Table 4.

FYR Macedonia: Overview of Current Practices Regarding Coverage, Periodicity, and Timeliness of Data Compared to the Recommendations of the GDDS

GDDS Data Category		Coverage (meets GDDS)	Periodicity		Timeliness
			GDDS	FYR Macedonia	GDDS	FYR Macedonia
Comprehensive Framework
Real sector: National Accounts		Yes	A	A	10–14 months	15 months
Fiscal sector: Central govt. operations		No	A	M	6–9 months	6 months
	General govt. operations	No	A	NA	6–9 months	NA
	Central govt. debt	No	A	M	6–9 months	6 months
Financial sector: Depository Corporations Survey		Yes	M	M	2–3 months	1 month
External sector: Balance of payments		Yes	A	M	6–9 months	75 days
Data Categories and Indicators
Real Sector
National accounts aggregates:
GDP (nominal and real)		Yes	A	A	6–9 months	11 months
Gross national income, capital formation, saving		Yes	A	A	6–9 months	12 months
Production index/indices
Manufacturing or industrial production index/indices		Yes	M	M	6 weeks	25–28 days
Primary commodity, agricultural, or other indices, as relevant		No	As relevant	NA	3 months	NA
Price indices:
Consumer price index		Yes	M	M	1–2 months	3 days
Producer price index		Yes	M	M	1–2 months	10 days
Labor market indicators:
Employment		Yes	A	A	6–9 months	5 months
Unemployment		Yes	A	A	6–9 months	5 months
Wages/earnings (all sectors)		Yes	A	M	6–9 months	30–45 days
Fiscal Sector
Central government aggregates:
Central govt. budgetary aggregates: revenue, expenditure, balance, and financing with breakdowns (debt holder, instrument, currency)		Yes	Q	M	1 quarter	1 quarter
Interest payments		Yes	Q	M	1 quarter	1 quarter
Central government debt:
Central govt. debt: domestic and foreign debt, as relevant, with appropriate breakdowns (debt holder, instrument, currency)		Yes (foreign debt only)	Q, A	M	1–2 qtrs	2 quarters
Government guaranteed debt		No	A	NA	1–2 qtrs	NA
Financial Sector
Broad money and credit aggregates		Yes	M	M	1–3 months	1 month
Central bank aggregates		Yes	M	M	1–2 months	1 month
Interest rates:
Short- and long-term govt. security rates, policy variable rate		Yes	M	D, M	1/	Yes
Money or interbank market rates and a range of deposit and lending rates		Yes	M	D, M	1/	Yes
Stock market:
Share price index, as relevant		Yes	M	D	1/	Yes
External Sector
Balance of payments aggregates		Yes	Q, A	M	6 months	75 days
Public and publicly guaranteed external debt outstanding, with maturity breakdown		Yes	Q	Q	1–2 qtrs	25 days
Public and publicly guaranteed debt service schedule		Yes	Twice yearly	M	3–6 months	25 days
Private external debt not publicly guaranteed		Yes	A	M	6–9 months	45 days
International reserves:
Gross official reserves denominated in U.S. dollars		Yes	M	M	1–4 wks	45 days
Reserve-related liabilities		No	M	NA	1–4 wks	NA
Merchandise trade:
Total exports and total imports		Yes	M	M	8 wks–3 months	30 days
Major commodity breakdowns with longer time lapse		Yes	M	M	8 wks–3 months	30 days
Exchange rates: spot rates		Yes	D	D	1/	Yes

Italics indicate encouraged categories.

^1/Dissemination as part of a high-frequency (e.g. monthly) publication.