Front Matter

Front Matter Page

© 2005 International Monetary Fund

July 2005

IMF Country Report No. 05/238

Arab Republic of Egypt: Report on the Observance of Standards and Codes—Data Module, Response by the Authorities, and Detailed Assessments Using the Data Quality Assessment Framework

This Report on the Observance of Standards and Codes on Data Module for the Arab Republic of Egypt was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. It is based on the information available at the time it was completed on July 11, 2005. The views expressed in this document are those of the staff team and do not necessarily reflect the views of the government of the Arab Republic of Egypt or the Executive Board of the IMF.

The Response by the Authorities on this report, and the Detailed Assessment Using the Data Quality Assessment Framework (DQAF) are also included.

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Front Matter Page

INTERNATIONAL MONETARY FUND

ARAB REPUBLIC OF EGYPT

Report on the Observance of Standards and Codes (ROSC)—Data Module

Prepared by the Statistics Department

Approved by William E. Alexander and Mohsin S. Khan

July 11, 2005

The Report on the Observance of Standards and Codes (ROSC) data module provides an assessment of the Arab Republic of Egypt’s macroeconomic statistics against the Special Data Dissemination Standard (SDDS) complemented by an assessment of data quality based on the IMF’s Data Quality Assessment Framework (DQAF July 2001). The DQAF lays out internationally accepted practices in statistics, ranging from good governance in data producing agencies to practices specific to datasets.

The datasets covered in this report are national accounts, consumer and producer price indices, and government finance, monetary and balance of payments statistics. The agencies that compile the datasets assessed in this report are the Ministry of Planning (MOP), the Central Agency for Public Mobilization and Statistics (CAPMAS), the Ministry of Finance (MOF), and the Central Bank of Egypt (CBE).

The datasets to which this report pertains can be accessed in print and on the Internet:

This report is based on information provided prior to and during a staff mission from October 7–20, 2003 and publicly available information. The mission team was headed by Mr. Adriaan M. Bloem, and included Mr. Cornelis Gorter, Ms. Betty Gruber, Mr. Gary Jones, Ms. Silvia Matei, Mr. Manik Shrestha, Ms. Xiu-xhen Zhao (All STA), and Ms. Lidia Tokuda (STA—Administrative Assistant).

Egypt is a participant in the SDDS.

Contents

  • Acronyms

  • Executive Summary

  • I. Introduction

  • II. Data Dissemination Practices and the Special Data Dissemination Standard

    • Data dimension: coverage, periodicity, and timeliness

    • Access dimension

    • Integrity dimension

    • Quality dimension

  • III. Summary Assessment of Data Quality

    • Prerequisites of quality

    • Integrity

    • Methodological soundness

    • Accuracy and reliability

    • Serviceability

    • Accessibility

  • IV. Staff’s Recommendations

    • Cross-cutting Recommendations

    • National Accounts

    • Consumer Price Index

    • Wholesale Price Index

    • Government Finance Statistics

    • Monetary Statistics

    • Balance of Payments Statistics

  • Tables

  • 1. Current Practices on Coverage, Periodicity, and Timeliness of Data

  • 2. DQAF—Summary Presentation of Results

  • Box

  • 1. Dimensions and Elements of the Special Data Dissemination Standard

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Acronyms

1968 SNA

System of National Accounts 1968

1993 SNA

System of National Accounts 1993

AIB

Arab International Bank

AMF

Arab Monetary Fund

BCD

Bank Control Department

BPM5

Balance of Payments Manual, fifth edition

CBE

Central Bank of Egypt

CAO

Central Audit Organization

CAPMAS

Central Agency for Public Mobilization and Statistics

CPI

Consumer price index

COICOP

Classification of Individual Consumption by Purpose

DQAF

Data Quality Assessment Framework

DSBB

Dissemination Standards Bulletin Board

FAAD

Finance and Accounting Department

FAD

IMF Fiscal Affairs Department

GASC

General Authority for Supply of Commodities

GFS

Government finance statistics

GFSM 1986

A Manual on Government Finance Statistics 1986

GFSM 2001

Government Finance Statistics Manual 2001

IIP

International investment position

MFSM

Monetary and Financial Statistics Manual

MOF

Ministry of Finance

MOP

Ministry of Planning

MPU

Monetary Policy Unit

NIB

National Investment Bank

NSDP

National Summary Data Page

ODC

Other Depository Corporations

OFC

Other Financial Corporations

PPI

Producer price index

SDDS

Special Data Dissemination Standard

SDF

Social Development Fund

SIF

Social insurance fund

STA

IMF Statistics Department

USAID

United States Agency for International Development

WPI

Wholesale price index

Executive Summary

This Report on the Observance of Standards and Codes data module provides an assessment of the quality of the national accounts, the consumer price index, the wholesale price index, and government finance, monetary, and balance of payments statistics of the Arab Republic of Egypt. The report also provides a review of Egypt’s data dissemination practices against the IMF’s Special Data Dissemination Standard (SDDS). The agencies that compile the statistics assessed in this report are the Ministry of Planning (MOP), the Central Agency for Public Mobilization and Statistics (CAPMAS), the Ministry of Finance (MOF), and the Central Bank of Egypt (CBE). The MOP is responsible for the national accounts, and CAPMAS for price statistics. The MOF is responsible for government finance statistics, and the CBE for monetary and balance of payments statistics. The assessment was carried out by a mission from the IMF’s Statistics Department (STA) that visited Cairo during October 7–20, 2003.

Against the background of economic liberalization, the Egyptian authorities have made important efforts to improve the statistics needed for developing and monitoring economic policies. There is a general awareness of the need for good quality data for these purposes. This has led to great improvements in many areas of statistics. The authorities’ strong commitment to adhering to internationally accepted standards and best practices is demonstrated by their decision to subscribe to the SDDS and their ongoing effort to meet its requirements. Metadata on compilation and dissemination practices are being developed with IMF assistance.

The main conclusions of the mission are:

  • Data dissemination practices: Egypt is well on its way to subscribing to the SDDS. Several issues remain, including the timeliness of the wholesale price index and the compilation of the data template on international reserves and foreign currency liquidity.

  • Prerequisites of quality: The agencies that produce statistics work within a satisfactory legal and institutional framework that supports statistical programs. In general, agencies display an awareness of quality as the cornerstone of statistical work.

  • For most topical areas staff resources are broadly sufficient for compiling macroeconomic statistics. Most professional staff have a college degree or an advanced degree, and appear to be well trained. However, computer resources are not always sufficient (price statistics and government finance statistics). Coordination among some of the institutions compiling related sets of statistics is limited or ad hoc.

  • Integrity: In general, institutions display professionalism and aim for transparency in their statistical practices and policies. The terms and conditions that govern collecting, processing, and disseminating official statistics are generally available to the public. However, authorities do not provide advance notice of major changes in methods, source data, and statistical techniques. Internal governmental access to government finance statistics and real sector statistics before their release is not sufficiently publicized.

  • Methodological soundness: Macroeconomic statistics largely follow international standards. However, in several areas problems remain (in particular concerning basis for recording).

  • Accuracy and reliability: Most macroeconomic statistics are of satisfactory accuracy and reliability, except for national accounts and price statistics. National accounts would benefit from a more critical review of source statistics. In price statistics, various constraints have impeded much needed innovations.

  • Serviceability: The disseminated macroeconomic statistics do not in all cases fully meet users’ needs, as confirmed by the results of a users’ survey.1 There is no general oversight regarding the development and coordination of macroeconomic statistics. Revision policies are not well established. Studies and analyses of revisions, where carried out, are generally not made public.

  • Accessibility: In anticipation of Egypt’s subscription to the SDDS, the authorities have prepared draft metadata for all datasets. However, these are not yet publicly accessible, except for those on the balance of payments and monetary statistics. In other areas, some metadata are publicly available. Publicly announced advance release calendars are not available for many data categories. The authorities intend to provide these prior to subscription. Except for balance of payments and monetary statistics, data are not released simultaneously to all interested parties. Contact information and support services to users are limited in several areas.

Front Matter Page

INTERNATIONAL MONETARY FUND

ARAB REPUBLIC OF EGYPT

Report on the Observance of Standards and Codes (ROSC)—Data Module

Response by the Authorities

July 11, 2005

Contents

  • 1. Ministry of Planning

  • 2. Ministry of Finance

  • 3. The Central Agency for Public Mobilization And Statistics (CAPMAS)

  • 4. CBE Monetary Policy Unit

  • 5. Balance of Payments Statistics

Front Matter Page

INTERNATIONAL MONETARY FUND

ARAB REPUBLIC OF EGYPT

Detailed Assessments Using the Data Quality Assessment Framework (DQAF)

Prepared by the Statistics Department

Approved by William E. Alexander and Mohsin S. Khan

July 11, 2005

This document contains a detailed assessment by dataset of the elements and indicators that underlie the data quality dimensions discussed in Egypt’s Report on the Observance of Standards and Codes (ROSC)—Data Module. It also includes as appendices the DQAF generic framework and the results of the users’ survey.

Contents

  • Acronyms

  • I. National Accounts

  • II. Price Statistics (Consumer Price Index)

  • III. Price Statistics (Wholesale Price Index)

  • IV. Government Finance Statistics

  • V. Monetary Statistics

  • VI. Balance of Payments Statistics

  • Tables

  • 1. DQAF—Summary of Results for National Accounts

  • 2. DQAF—Summary of Results for Price Statistics (Consumer Price Index)

  • 3. DQAF—Summary of Results for Price Statistics (Wholesale Price Index)

  • 4. DQAF—Summary of Results for Government Finance Statistics

  • 5. DQAF—Summary of Results for Monetary Statistics

  • 6. DQAF—Summary of Results for Balance of Payments Statistics

  • Appendices

  • I. Summary of the Special Data Dissemination Standard (SDDS)

  • II. Data Quality Assessment Framework—Generic Framework

  • III. Users’ Survey

Front Matter Page

Acronyms

1968 SNA

System of National Accounts 1968

1993 SNA

System of National Accounts 1993

AIB

Arab International Bank

AMF

Arab Monetary Fund

ARCs

Advance Release Calendars

BOP

Balance of Payments

BOPD

Balance of Payments Division

BOPSY

Balance of Payments Statistics Yearbook

BCD

Bank Control Department

BPM5

Balance of Payments Manual, fifth edition

CAA

Central Audit Agency

CBE

Central Bank of Egypt

CAO

Central Audit Organization

CAPMAS

Central Agency for Public Mobilization and Statistics

CHGS

Classification of Household Goods and Services

CPI

Consumer price index

COICOP

Classification of Individual Consumption by Purpose

DQAF

Data Quality Assessment Framework

DSBB

Dissemination Standards Bulletin Board

EGPC

Egyptian General Petroleum Corporation

FAAD

Finance and Accounting Department

FAD

IMF Fiscal Affairs Department

GASC

General Authority for Supply of Commodities

GFS

Government finance statistics

GFSM 1986

A Manual on Government Finance Statistics 1986

GFSM 2001

Government Finance Statistics Manual 2001

HES

Household Expenditure Survey

IIP

International investment position

ITRS

International transactions reporting system

ISIC

International Standard Industrial Classification of All Economic Activities

ISWGNA

Intersecretariat Working Group on National Accounts

ITRS

International transactions reporting system

LE

Egyptian pounds

LEDD

Loan and External Debt Department

MFSM

Monetary and Financial Statistics Manual

MOF

Ministry of Finance

MOP

Ministry of Planning

MPU

Monetary Policy Unit

NIB

National Investment Bank

NSDP

National Summary Data Page

ODCs

Other Depository Corporations

OFC

Other Financial Corporations

PMSA

Public Mobilization and Statistics Administration

SDDS

Special Data Dissemination Standard

SDF

Social Development Fund

SIF

Social insurance fund

STA

IMF Statistics Department

SUMED

Suez-Mediterranean Pipeline

USAID

United States Agency for International Development

WPI

Wholesale price index