I. Overall Assessment

1. The macroeconomic statistics are generally of high quality, broadly conforming to international standards for compilation and dissemination, and reflecting considerable improvement since the 2001 data ROSC. However, some scope for improvement remains, including on the accuracy and reliability of the national accounts and the government finance statistics (GFS), coverage of the consumer and producer price indices (CPI, PPI), timeliness of the accounts of the banking sector, and ease of access to documentation for fiscal and monetary data. Many of the actions needed for further progress are already underway or envisaged in the Official Statistics Program 2007-11, the product of a large-scale process of consultation that began in 2006 after the enactment of new statistics legislation.

2. Recent progress in data quality reflects the authorities’ commitment to set statistical development on a high and sustainable path, and to address remaining challenges. A cornerstone of this effort is the more robust framework established by the new Statistics Law of Turkey (No. 5429) of November 2005. This law assigned compilation responsibilities for a broad range of official data, including macroeconomic statistics. With compilation responsibilities more clearly defined, Turkstat is coordinating the planning for data improvement within a disciplined timetable. The law endowed the Turkish Statistical Institute (Turkstat) with a lead role in taking the statistical system forward, explicitly enshrining principles to sustain transparency and integrity. Also, it strengthened the institutional support for statistics by creating a coordinating mechanism (the Statistical Council) and devices to guide and monitor progress (the Official Statistics Program (OSP) and the Strategic Plan). This more robust institutional framework includes users’ feedback and access to review compilation practices.

3. Progress also has taken the form of a paradigm shift in methodology, implementation of more advanced techniques and extensive source data, and greater attention to user needs. On methodological progress, the national accounts now conform to 1995 European System of Accounts (1995 ESA), the balance of payments (BOP) more closely observes the 5^th Edition of the Balance of Payment Manual (BPM5), the monetary and financial statistics (MFS) adhere to the Monetary and Financial Statistics Manual (MFSM), and the government finance statistics (GFS) are in transition to the Government Finance Statistical Manual 2001 (GFSM 2001). On techniques, compilation of the national accounts now uses annual chain volume measures, and the CPI and PPI also have been converted to annual chain indices. Users benefit from improved access to more and higher frequency macroeconomic data through electronic means. Against this backdrop of considerable success in increasing the volume and frequency of data, compilers of fiscal data face the challenge of further intensifying inter-agency cooperation, including to ensuring propagation of new practices and know-how, and for users to be adequately cautioned about the various vintages of data spanning different periodicities, organizing criteria, and intended uses. While resources are broadly adequate, some supplementation might be needed in future to keep up with the fast pace of improvement.

4. While good statistical work has a long tradition in Turkey, several factors have converged this decade to give strong impetus to the creation of a basis for rapid progress. The authorities’ interest in accession to the European Union (EU) has led to extensive work aimed at achieving comparability with the EU statistical system and meeting requirements specified in Chapter 18 of the Aquis Communataire. This system-wide effort has been assisted by EU financial and technical support, which has contributed to advances in the national accounts. Sound policies adopted in the aftermath of the 2001 crisis facilitated a robust and sustained economic expansion through mid-2008. This along with considerable investment inflows have further increased the demand by policymakers and other users for high-frequency and accurate macroeconomic data. Successive programs with the Fund this decade also reinforced interest in key data to formulate policy and assess macroeconomic performance and vulnerabilities. The convergence of these factors has contributed to a consensus that efforts at statistical progress are a priority. While the EU effect is likely to be continuing, additional challenges will have to be met as new data needs emerge, the financial markets develop further, and statistical standards continue to evolve.

5. Attention to user needs and good dissemination practices are supported by observance of the Special Data Dissemination Standard (SDDS). Turkey subscribed to the SDDS on August 8, 1996 and started posting its metadata on the IMF’s Dissemination Standards Bulletin Board (DSBB) on July 20, 2001. Turkey is in observance of the SDDS, meeting specifications for coverage, periodicity, timeliness, and dissemination of advance release calendars, and exceeding specifications in some areas. Turkey uses flexibility options on the timeliness of the analytical accounts of the banking sector. For all datasets, summary up-to-date methodological statements are posted on the DSBB. Appendix I provides an overview of dissemination practices compared with the SDDS.

6. Based on the IMF’s Data Quality Assessment Framework (DQAF), the mission has arrived at the following conclusions:

7. Prerequisites of quality and assurances of integrity

• The activities of the Turkish Statistical Institute (Turkstat) are amply supported by a new law that embeds modern principles to guide the activities of the national statistical system. The new Statistical Council, which is chaired by the President of Turkstat and includes leading officials of key compiling ministries and agencies and relevant private sector representatives, is helping to impart priority to agreed objectives set out in the OSP. In this context, agencies responsible for the macroeconomic statistics generally collaborate effectively to comply with key national (budget formulation and macroeconomic planning) and international objectives linked to the process of EU accession and Turkey’s relationship with the Fund and the rest of the international community. Turkstat’s guiding role is facilitated by the work of its boards tasked with Data Quality Control and Publication and Dissemination, which promote systematic use of best practices.

• The legal and institutional environment under which the Ministry of Finance (MOF), the Undersecretariat of the Treasury (Treasury), and State Planning Organization (SPO) of the Prime Minister’s Office compile government finance statistics remains complex but supportive. This is because of the challenging nature of tasks. While the MOF has responsibility for compiling data on the general government, Treasury is responsible for data on financing and debt. In addition, the OSP assigns the SPO responsibility for producing data on the consolidated operations of the public sector. Responsibilities are clearly defined and the work of the Treasury and MOF is well coordinated for existing compilation activities. Nevertheless, intensified collaboration could help expedite an integrated approach to fiscal data compilation coordinated by one agency and facilitate ongoing methodological development (including use of a single chart of accounts and uniform economic and functional classifications by all levels of government and public entities). Compilation is objective, impartial and supported by ethical guidelines in laws and regulations.

• The 1970 Law of the Central Bank of the Republic of Turkey (CBRT) was amended in 2001 to strengthen its independence, and the 2005 Statistics Law further buttressed the CBRT’s framework for effective data production. The CBRT has a tradition of data dissemination for the benefit of policymakers and the public. Following the 2001 amendment, preparations began for an inflation targeting regime (IT), which was adopted in early 2006. The strong emphasis placed by IT on transparency and publication of information further solidified discipline in the dissemination of statistics and the commitment to provide the public with assurances of integrity. The Council of Ministers appoints the Governor of the CBRT (also the Chairman of the Monetary Policy Committee) for a renewable term of five years. Data production is under the responsibility of a department dedicated exclusively to statistics, which supports good performance. The CBRT maintains close relations with relevant agencies, including the Banking Regulation and Supervision Agency (BRSA). Resources are commensurate with current tasks, although some supplementation will likely be needed in view of laudably ambitious plans. Emphasis on quality is high, as reflected by the promotion of training and research and an ongoing search for avenues for improvement. The CBRT recruits qualified staff, and promotes professionalism and ethical standards.

8. The methodological foundations of the macroeconomic statistics are generally sound and reflect substantial improvement since the 2001 data ROSC. Following a recent significant upgrade, the national accounts have achieved close alignment with the 1995 ESA, and work is underway to extend their scope to incorporate the sequence of accounts for the total economy, annual supply and use tables, and institutional sector accounts. The CPI and the PPI generally conform to international standards, although the CPI lacks a component to represent owner-occupied housing. The PPI is compiled only by product (and not by economic activity) and its scope could be expanded to include exports and services. Compilation of the GFS is already in transition from the guidelines in the Manual on Government Finance Statistics 1986 (GFSM 1986) toward those in the more ambitious 1995 ESA and GFSM 2001, with the MOF leading the way. The MOF has begun compiling GFSM 2001-consistent data for the central government, but it has yet to incorporate local government units and social security institutions to compile general government data, and the data on local government total debt could be improved further. In the interim, three agencies prepare various fiscal aggregates mostly on mixed bases (i.e., cash/accrual), but users are well-served by a wealth of data. Commendably, the data prepared by the SPO cover the consolidated operations of the public sector. For the national accounts, price, and government finance statistics, the remaining challenges in coverage appear manageable with remedial action already planned or underway in most cases. Both the MFS and the BOP statistics are underpinned by international best practice, although some transactions in the BOP continue to be recorded on a cash basis and asset classification in the MFS needs further improvement, albeit with a narrower scope than in 2001.

9. While the accuracy and reliability of the BOP have improved in recent years, the national accounts and the GFS could be buttressed further by more timely use of additional data sources. From heavy reliance on banking records in 2001, the CBRT has since made substantial progress in the use of surveys. The national accounts could benefit from the incorporation of data from annual collections, the development of independent estimates of household consumption, the collection of quarterly information on inventory changes, and further enhancement of estimates for the non-observed economy. Such work would provide a higher level of confidence in estimates of the components of aggregate demand and national saving. The main challenge for the GFS is the need to use effectively the timely data that have become available with the introduction of the centralized automated say 2000i information system, which records the financial transactions of the central government. Transforming these source data with appropriate adjustments would facilitate compilation of the general government statistics. Source data for the MFS are of high quality, but extensive and rigorous reporting requirements on banks give rise to a long lag in data submission to the CBRT. For some datasets, revision studies are seldom prepared and generally not published.

10. Serviceability of the macroeconomic statistics is very good in most cases. Most notably, the service to the users of CBRT data is excellent, with weekly periodicity for the MFS and the timeliness and periodicity of the BOP statistics exceeding SDDS prescriptions. In addition, the reconciliation of the BOP data with stocks has been facilitated by the dissemination of the annual International Investment Position (IIP) starting in 2002, with monthly IIP indicators published since April 2008. Publication of the data on depository corporations falls short of SDDS timeliness prescriptions, although an entitled flexibility option is taken. Macroeconomic data are consistent within the dataset and over time, but insufficient efforts are made by most compiling units to ensure inter-dataset consistency.

11. Significant resources and the focus devoted to accessibility of macroeconomic data have yielded good results, but further improvement would be welcome. There are no seasonally adjusted national accounts or BOP estimates, and there is a need for more detail such as quarterly income components of GDP, GDP per capita, GDP per person employed, and implicit price deflators. There is insufficient guidance to GFS users on the various aggregates produced for similar concepts. For instance, the MOF disseminates separate datasets on the central government and the local government, with unconsolidated accounts of these two levels of government. In contrast, the SPO publishes consolidated data on the general government and the public sector. On the positive side, major publications by the SPO, MOF, Treasury, and the CBRT provide analyses based on published data. Such publications include the Inflation Reports and the Medium-Term Program (including the Medium-Term Fiscal Framework). For most datasets, detailed data and good metadata are readily available in various formats and statistics are disseminated according to a pre-announced calendar. Unpublished nonconfidential data are generally made available to users upon request. Publications and web pages list contact information, publications, and other services. Commendably, the weekly monetary data are provided with ample detail and multiple formats (including in “the framework of the Stand-By-Agreement with the Fund”).

12. 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

13. Assessments of the quality of six macroeconomic datasets—national accounts, consumer price, producer price, government finance, monetary, and balance of payments statistics—were conducted using the Data Quality Assessment Framework (DQAF, July 2003). In this section, the results are presented at the level of the DQAF elements and using a four-point rating scale (Table 1). Assessments of the prerequisites of data quality and the assurances of integrity (Dimensions “0” and “1” of the DQAF) are presented in Tables 2a–d. For each dataset, the assessment of methodological soundness, accuracy and reliability, serviceability, and accessibility (Dimensions “2” to “5” of the DQAF) are shown in Tables 3a–f.

Table 1.

Turkey: Data Quality Assessment Framework—Summary Results

Key to symbols: O = Practice Observed; LO = Practice Largely Observed; LNO =Practice Largely Not Observed; NO = Practice Not Observed; NA = Not Applicable

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.

Turkey: Data Quality Assessment Framework—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	Balance of Payments	Monetary Statistics
Dimensions/Elements
0. Prerequisites of quality
0.1	Legal and institutional environment	O	O	O	O	O	O
0.2	Resources	O	O	O	O	O	O
0.3	Relevance	O	O	O	O	O	O
0.4	Other quality management	O	O	O	O	O	O
1. Assurances of integrity
1.1	Professionalism	O	O	O	O	O	O
1.2	Transparency	O	O	O	O	O	O
1.3	Ethical standards	O	O	O	O	O	O
2. Methodological soundness
2.1	Concepts and definitions	O	O	LO	O	O	O
2.2	Scope	LO	LO	LO	LO	O	O
2.3	Classification/sectorization	O	O	O	O	O	LO
2.4	Basis for recording	O	LO	O	O	LO	O
3. Accuracy and reliability
3.1	Source data	LO	O	O	O	O	O
3.2	Assessment of source data	O	O	O	O	O	O
3.3	Statistical techniques	LO	O	O	LO	O	O
3.4	Assessment and validation of intermediate data and statistical outputs	O	O	O	O	O	O
3.5	Revision studies	LO	O	O	LO	O	O
4. Serviceability
4.1	Periodicity and timeliness	O	O	O	O	O	LO
4.2	Consistency	O	O	O	LO	LO	LO
4.3	Revision policy and practice	O	O	O	LO	O	O
5. Accessibility
5.1	Data accessibility	LO	O	O	LO	O	O
5.2	Metadata accessibility	O	O	O	LO	O	O
5.3	Assistance to users	O	O	O	O	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.

Turkey: Data Quality Assessment Framework—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	Balance of Payments	Monetary Statistics
Dimensions/Elements
0. Prerequisites of quality
0.1	Legal and institutional environment	O	O	O	O	O	O
0.2	Resources	O	O	O	O	O	O
0.3	Relevance	O	O	O	O	O	O
0.4	Other quality management	O	O	O	O	O	O
1. Assurances of integrity
1.1	Professionalism	O	O	O	O	O	O
1.2	Transparency	O	O	O	O	O	O
1.3	Ethical standards	O	O	O	O	O	O
2. Methodological soundness
2.1	Concepts and definitions	O	O	LO	O	O	O
2.2	Scope	LO	LO	LO	LO	O	O
2.3	Classification/sectorization	O	O	O	O	O	LO
2.4	Basis for recording	O	LO	O	O	LO	O
3. Accuracy and reliability
3.1	Source data	LO	O	O	O	O	O
3.2	Assessment of source data	O	O	O	O	O	O
3.3	Statistical techniques	LO	O	O	LO	O	O
3.4	Assessment and validation of intermediate data and statistical outputs	O	O	O	O	O	O
3.5	Revision studies	LO	O	O	LO	O	O
4. Serviceability
4.1	Periodicity and timeliness	O	O	O	O	O	LO
4.2	Consistency	O	O	O	LO	LO	LO
4.3	Revision policy and practice	O	O	O	LO	O	O
5. Accessibility
5.1	Data accessibility	LO	O	O	LO	O	O
5.2	Metadata accessibility	O	O	O	LO	O	O
5.3	Assistance to users	O	O	O	O	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.

Turkey: Assessment of Data Quality—Turkish Statistical Institute (Turkstat)

Table 2a.

Turkey: Assessment of Data Quality—Turkish Statistical Institute (Turkstat)

0. Prerequisites of quality

1. Assurances of integrity

Legal and institutional environment. Turkstat is responsible for compiling the national accounts, the CPI, the PPI, and a range of other statistics. Its activities are supported by the Statistics Law (No. 5429) of November 2005. This law strengthened the coordinating role of Turkstat within the national statistical system, and created the Statistical Council chaired by the President of Turkstat and including the Undersecretary of the Treasury, the Governor of CBRT and other high-level officials, as well as private sector representatives. It meets at least once a year, helping to impart a sense of high priority and common effort towards the shared objective of statistical development. The credibility of the statistical framework is also supported by the five-year Strategic Plan and the Official Statistics Program (OSP). The latter specifies responsibilities across agencies, promotes discipline in dissemination, and emphasizes data quality. The 2005 law helped strengthen the basis for inter-agency coordination, facilitated access to administrative data, and reiterated the obligation to submit data for statistical purposes and the confidentiality of individual data (with sanctions for noncompliance). In this context, inter-institutional coordination for statistical production is broadly adequate, with the responsibilities for producing macroeconomic statistics clearly defined. Intra-Turkstat coordination is robust in the compilation of the national accounts, CPI, and PPI. Resources. A sustained effort to strengthen Turkstat has resulted in a substantial increase in material resources since 2001. As a result, its human and material resources are adequate and commensurate with tasks. Over 50 percent of staff are permanent and well-qualified. The ratio of personal computers to staff slightly exceeds unity. Relevance. User surveys are conducted periodically to ascertain views on the adequacy of the frequency, timeliness, and other aspects of quality. User input is also obtained through an ongoing web-based user survey, an annual research symposium, and an annual national statistics congress. Other quality management. Turkstat attaches great importance to quality in its work, and promotes quality awareness throughout the national statistical system. In this regard, the Quality Control Board examines and evaluates statistical work and oversees compliance with international standards. The quality of statistical projects is regularly assessed.

Professionalism. The internal operations of Turkstat reflect the actions of highly professional staff. Its professional independence is well cemented in the Statistics Law, which provides that the President of Turkstat reports directly to the Prime Minister, is appointed to a renewable five-year term by the Council of Ministers (with a two-term limit), and may not be removed from office (except for a disabling health condition). The culture of professionalism is widely recognized and the credibility of its output is high, particularly for the CPI. Personnel management fosters high professional standards. Recruitment and promotion are decided on credentials, ability, and performance. The 2005 law introduced clear guidance for recruitment, promotion, and performance appraisal. Statistical research is released in a number of publications and Turkstat monitors and adopts international methodological standards. Through press releases and seminars for the media, Turkstat seeks to build capacity to improve the understanding of its data. These practices were evident at the time of the release of revised GDP data in March 2008, when two press conferences were organized as well as presentations to the Prime Minister and the Council of Ministers. To track progress on data quality across the statistical system, Turkstat prepares annual monitoring reports on OSP implementation. Transparency. Recent passage of key legislation has created a robust basis for transparency in the work of Turkstat and the rest of the national statistical system. In particular, the 2005 Statistics Law provides an excellent basis for the promotion of transparency in statistical activity. Notably, it requires that all relevant information and methods used to compile official statistics be made public in order to allow evaluation of their quality (Article 4). In addition, the Information Access Law (No. 4982) of 2003 requires public officials to provide access to any information or document within 15 business days of a request. Through its website, Turkstat provides users with information on its legal framework, organization, output, and staff. Data are released simultaneously to the public, as well as policymakers. In advance of methodological changes, Turkstat informs selected users of impending changes, inviting feedback and hosting debate in certain cases. Publications clearly identify the units of Turkstat responsible for compilation. Ethical standards. Staff members are required by the Statistics Law (Article 13) to observe ethical standards and severe penalties may be imposed for transgressions (Articles 53 and 54).

View Table

Table 2a.

Turkey: Assessment of Data Quality—Turkish Statistical Institute (Turkstat)

0. Prerequisites of quality

1. Assurances of integrity

Legal and institutional environment. Turkstat is responsible for compiling the national accounts, the CPI, the PPI, and a range of other statistics. Its activities are supported by the Statistics Law (No. 5429) of November 2005. This law strengthened the coordinating role of Turkstat within the national statistical system, and created the Statistical Council chaired by the President of Turkstat and including the Undersecretary of the Treasury, the Governor of CBRT and other high-level officials, as well as private sector representatives. It meets at least once a year, helping to impart a sense of high priority and common effort towards the shared objective of statistical development. The credibility of the statistical framework is also supported by the five-year Strategic Plan and the Official Statistics Program (OSP). The latter specifies responsibilities across agencies, promotes discipline in dissemination, and emphasizes data quality. The 2005 law helped strengthen the basis for inter-agency coordination, facilitated access to administrative data, and reiterated the obligation to submit data for statistical purposes and the confidentiality of individual data (with sanctions for noncompliance). In this context, inter-institutional coordination for statistical production is broadly adequate, with the responsibilities for producing macroeconomic statistics clearly defined. Intra-Turkstat coordination is robust in the compilation of the national accounts, CPI, and PPI. Resources. A sustained effort to strengthen Turkstat has resulted in a substantial increase in material resources since 2001. As a result, its human and material resources are adequate and commensurate with tasks. Over 50 percent of staff are permanent and well-qualified. The ratio of personal computers to staff slightly exceeds unity. Relevance. User surveys are conducted periodically to ascertain views on the adequacy of the frequency, timeliness, and other aspects of quality. User input is also obtained through an ongoing web-based user survey, an annual research symposium, and an annual national statistics congress. Other quality management. Turkstat attaches great importance to quality in its work, and promotes quality awareness throughout the national statistical system. In this regard, the Quality Control Board examines and evaluates statistical work and oversees compliance with international standards. The quality of statistical projects is regularly assessed.

Professionalism. The internal operations of Turkstat reflect the actions of highly professional staff. Its professional independence is well cemented in the Statistics Law, which provides that the President of Turkstat reports directly to the Prime Minister, is appointed to a renewable five-year term by the Council of Ministers (with a two-term limit), and may not be removed from office (except for a disabling health condition). The culture of professionalism is widely recognized and the credibility of its output is high, particularly for the CPI. Personnel management fosters high professional standards. Recruitment and promotion are decided on credentials, ability, and performance. The 2005 law introduced clear guidance for recruitment, promotion, and performance appraisal. Statistical research is released in a number of publications and Turkstat monitors and adopts international methodological standards. Through press releases and seminars for the media, Turkstat seeks to build capacity to improve the understanding of its data. These practices were evident at the time of the release of revised GDP data in March 2008, when two press conferences were organized as well as presentations to the Prime Minister and the Council of Ministers. To track progress on data quality across the statistical system, Turkstat prepares annual monitoring reports on OSP implementation. Transparency. Recent passage of key legislation has created a robust basis for transparency in the work of Turkstat and the rest of the national statistical system. In particular, the 2005 Statistics Law provides an excellent basis for the promotion of transparency in statistical activity. Notably, it requires that all relevant information and methods used to compile official statistics be made public in order to allow evaluation of their quality (Article 4). In addition, the Information Access Law (No. 4982) of 2003 requires public officials to provide access to any information or document within 15 business days of a request. Through its website, Turkstat provides users with information on its legal framework, organization, output, and staff. Data are released simultaneously to the public, as well as policymakers. In advance of methodological changes, Turkstat informs selected users of impending changes, inviting feedback and hosting debate in certain cases. Publications clearly identify the units of Turkstat responsible for compilation. Ethical standards. Staff members are required by the Statistics Law (Article 13) to observe ethical standards and severe penalties may be imposed for transgressions (Articles 53 and 54).

Table 2b.

Turkey: Assessment of Data Quality—Ministry of Finance (MOF)

Table 2b.

Turkey: Assessment of Data Quality—Ministry of Finance (MOF)

0. Prerequisites of quality

1. Assurances of integrity

Legal and institutional environment. Articles 30 and 53 of the Public Financial Management and Control Law (PFMCL) No. 5018, enacted in December 2003, authorize the MOF to compile and disseminate government finance statistics for the general government sector and to impose sanctions on institutions that do not provide timely and comprehensive data. Under this authority, the MOF is to establish compilation standards and practices, including coverage, accounting framework, and methods of recording and valuation. Also, the Official Statistical Program assigns to the MOF the responsibility of compiling budget statistics (revenue and expenditure), and financing and debt data to the Treasury. Article 23 of the Establishment Law No. 540 authorizes the SPO to collect data for compiling macroeconomic data (including on the operations of the public sector) needed for preparing Turkey’s Annual Programs. There is some scope to intensify interagency collaboration further to expedite an integrated approach to compilation coordinated by one agency and facilitate ongoing methodological development (including to accelerate use of a single chart of accounts and uniform economic and functional classifications by compilers at all levels of government and public entities). Resources. The number, qualifications, and training of staff are adequate to perform current tasks. The MOF’s introduction in 2006 of a standard chart of accounts for use by central and local government entities and social security institutions and the establishment of the say2000i government accounting system also for use by central government and local government entities have enhanced the efficiency of compilation. In addition, these actions have also contributed to the significant progress the MOF has made in improving the coverage and periodicity of its government finance statistics, and facilitated the MOF’s work to incorporate international standards—the GFSM 2001 and 1995 ESA—in its compilation of such data. Staff involved in compiling government finance statistics have improved their skills through training. However, action is needed to encourage a higher degree of retention of trained staff. Relevance. Various datasets are compiled and disseminated to meet specific needs of users, including for budgetary purposes and statistical reporting to the IMF. Email addresses and telephone numbers of contact persons are published with the data, and users’ feedback is monitored. Other quality management. Staff regularly attends international OECD and EUROSTAT meetings to keep abreast of developments in international standards. The authorities are aware that continued efforts are needed to further improve data quality, in particular, those on the local government and social security operations. While adequate for existing compilation activity, intensified consultation with the SPO could facilitate the MOF’s work to incorporate data on the local government and social security operations needed to compile the consolidated general government in line with the GFSM 2001. The MOF would need to take the initiative in this regard.

Professionalism. Professional qualifications and competence of compilers are high, with source data drawn from accounting records. Professionalism is recognized as essential to the credibility of the statistics. Transparency. Detailed data on revenue and expenditure as well as assets and liabilities are published on the MOF website. Only compilers and senior officials of compiling agencies have access to the data prior to release to the public. The public is informed of major changes in methodology at the time the changes are introduced. Ethical standards. Compilers are obligated to observe the Regulations on Public Ethical Principles issued by the Public Officials Ethical Commission. New staff are made aware of the Regulations and current staff are reminded periodically about the Regulations.

View Table

Table 2b.

Turkey: Assessment of Data Quality—Ministry of Finance (MOF)

0. Prerequisites of quality

1. Assurances of integrity

Legal and institutional environment. Articles 30 and 53 of the Public Financial Management and Control Law (PFMCL) No. 5018, enacted in December 2003, authorize the MOF to compile and disseminate government finance statistics for the general government sector and to impose sanctions on institutions that do not provide timely and comprehensive data. Under this authority, the MOF is to establish compilation standards and practices, including coverage, accounting framework, and methods of recording and valuation. Also, the Official Statistical Program assigns to the MOF the responsibility of compiling budget statistics (revenue and expenditure), and financing and debt data to the Treasury. Article 23 of the Establishment Law No. 540 authorizes the SPO to collect data for compiling macroeconomic data (including on the operations of the public sector) needed for preparing Turkey’s Annual Programs. There is some scope to intensify interagency collaboration further to expedite an integrated approach to compilation coordinated by one agency and facilitate ongoing methodological development (including to accelerate use of a single chart of accounts and uniform economic and functional classifications by compilers at all levels of government and public entities). Resources. The number, qualifications, and training of staff are adequate to perform current tasks. The MOF’s introduction in 2006 of a standard chart of accounts for use by central and local government entities and social security institutions and the establishment of the say2000i government accounting system also for use by central government and local government entities have enhanced the efficiency of compilation. In addition, these actions have also contributed to the significant progress the MOF has made in improving the coverage and periodicity of its government finance statistics, and facilitated the MOF’s work to incorporate international standards—the GFSM 2001 and 1995 ESA—in its compilation of such data. Staff involved in compiling government finance statistics have improved their skills through training. However, action is needed to encourage a higher degree of retention of trained staff. Relevance. Various datasets are compiled and disseminated to meet specific needs of users, including for budgetary purposes and statistical reporting to the IMF. Email addresses and telephone numbers of contact persons are published with the data, and users’ feedback is monitored. Other quality management. Staff regularly attends international OECD and EUROSTAT meetings to keep abreast of developments in international standards. The authorities are aware that continued efforts are needed to further improve data quality, in particular, those on the local government and social security operations. While adequate for existing compilation activity, intensified consultation with the SPO could facilitate the MOF’s work to incorporate data on the local government and social security operations needed to compile the consolidated general government in line with the GFSM 2001. The MOF would need to take the initiative in this regard.

Professionalism. Professional qualifications and competence of compilers are high, with source data drawn from accounting records. Professionalism is recognized as essential to the credibility of the statistics. Transparency. Detailed data on revenue and expenditure as well as assets and liabilities are published on the MOF website. Only compilers and senior officials of compiling agencies have access to the data prior to release to the public. The public is informed of major changes in methodology at the time the changes are introduced. Ethical standards. Compilers are obligated to observe the Regulations on Public Ethical Principles issued by the Public Officials Ethical Commission. New staff are made aware of the Regulations and current staff are reminded periodically about the Regulations.

Table 2c.

Turkey: Assessment of Data Quality—Office of the Prime Minister: Undersecretariat of the Treasury (Treasury), and Office State Planning Organization (SPO)

Table 2c.

Turkey: Assessment of Data Quality—Office of the Prime Minister: Undersecretariat of the Treasury (Treasury), and Office State Planning Organization (SPO)

0. Prerequisites of quality

1. Assurances of integrity

Legal and institutional environment. Article 23 of the Establishment Law No. 540 authorizes the SPO to collect data required for compiling macroeconomic statistics, including data on the operations of the public sector needed for the preparation of Turkey’s Annual Programs. Also, the SPO compiles government finance data for use in the preparation of the budget, and publishes annual data on the public sector finances. Under the Law on Regulating Public Finance and Debt Management (No:4749) and under Article 2/a of the Law on the Structures and Duties of the Undersecretariat of Treasury (No:4059), the Treasury is responsible for compiling financing data for the budgetary central government. The Treasury is the sole agency “producing, monitoring, and compiling” data on the central government debt and long-term external debt of the public sector (both issued domestically and externally). Its extensive experience in addressing compilation challenges to prepare comprehensive public finance data places the SPO in an excellent position to assist the MOF in its work to implement the GFSM 2001. Resources. The number, qualifications, and training of staff are adequate to perform the required tasks. The Treasury has a comprehensive database and an accountancy system to record in detail the central government’s domestic and foreign financial activities, as well as the external debt of the public sector. The system is supported by a robust IT back-up system. The central government accountancy database feeds into the MoF’s automated say2000i system on a timely basis. The SPO collects data on extrabudgetary funds, local governments, social security institutions, and state-owned enterprises. Relevance. Various datasets are compiled and disseminated to meet specific needs of users, including for EU accession reporting purposes. Email addresses and telephone numbers of contact persons are published with the data; and users’ feedback is monitored. Other quality management. Staff regularly attends international meetings of the OECD and the EUROSTAT to keep abreast of developments in international standards and methodologies.

Professionalism. Professional qualifications and competence of compilers are high, with source data drawn from accounting records. Professionalism is recognized as essential to the credibility of the statistics. To prevent misinterpretations or misuses of its data, the Treasury provides explanatory materials/briefings on a regular basis. Transparency. The Treasury publishes data on central government financing and debt on its website, both in English and in Turkish. Only relevant Treasury staff has access to the data prior to their release to the public. The data are kept confidential until announcements are made to the public. Responsible agencies are clearly identified along with the data published. Changes in methodology are rare and are noted on the Treasury’s website at the time of revisions. The SPO publishes data on public sector finances in Turkey’s Annual Programs, the Pre-Accession Economic Program, and the Medium-Term Program (all of which are authored by the SPO). Presentation of the data in publications includes explanations of key adjustments, facilitating understanding of the state of the consolidated public sector finances (including the general government and selected state-owned enterprises). Ethical standards. Compilers are obliged to obey the requirements of the Regulations on Public Ethical Principles issued by the Public Officials Ethical Commission. New staff is made aware of the Regulations and current staff is reminded periodically about the Regulations.

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Table 2c.

Turkey: Assessment of Data Quality—Office of the Prime Minister: Undersecretariat of the Treasury (Treasury), and Office State Planning Organization (SPO)

0. Prerequisites of quality

1. Assurances of integrity

Legal and institutional environment. Article 23 of the Establishment Law No. 540 authorizes the SPO to collect data required for compiling macroeconomic statistics, including data on the operations of the public sector needed for the preparation of Turkey’s Annual Programs. Also, the SPO compiles government finance data for use in the preparation of the budget, and publishes annual data on the public sector finances. Under the Law on Regulating Public Finance and Debt Management (No:4749) and under Article 2/a of the Law on the Structures and Duties of the Undersecretariat of Treasury (No:4059), the Treasury is responsible for compiling financing data for the budgetary central government. The Treasury is the sole agency “producing, monitoring, and compiling” data on the central government debt and long-term external debt of the public sector (both issued domestically and externally). Its extensive experience in addressing compilation challenges to prepare comprehensive public finance data places the SPO in an excellent position to assist the MOF in its work to implement the GFSM 2001. Resources. The number, qualifications, and training of staff are adequate to perform the required tasks. The Treasury has a comprehensive database and an accountancy system to record in detail the central government’s domestic and foreign financial activities, as well as the external debt of the public sector. The system is supported by a robust IT back-up system. The central government accountancy database feeds into the MoF’s automated say2000i system on a timely basis. The SPO collects data on extrabudgetary funds, local governments, social security institutions, and state-owned enterprises. Relevance. Various datasets are compiled and disseminated to meet specific needs of users, including for EU accession reporting purposes. Email addresses and telephone numbers of contact persons are published with the data; and users’ feedback is monitored. Other quality management. Staff regularly attends international meetings of the OECD and the EUROSTAT to keep abreast of developments in international standards and methodologies.

Professionalism. Professional qualifications and competence of compilers are high, with source data drawn from accounting records. Professionalism is recognized as essential to the credibility of the statistics. To prevent misinterpretations or misuses of its data, the Treasury provides explanatory materials/briefings on a regular basis. Transparency. The Treasury publishes data on central government financing and debt on its website, both in English and in Turkish. Only relevant Treasury staff has access to the data prior to their release to the public. The data are kept confidential until announcements are made to the public. Responsible agencies are clearly identified along with the data published. Changes in methodology are rare and are noted on the Treasury’s website at the time of revisions. The SPO publishes data on public sector finances in Turkey’s Annual Programs, the Pre-Accession Economic Program, and the Medium-Term Program (all of which are authored by the SPO). Presentation of the data in publications includes explanations of key adjustments, facilitating understanding of the state of the consolidated public sector finances (including the general government and selected state-owned enterprises). Ethical standards. Compilers are obliged to obey the requirements of the Regulations on Public Ethical Principles issued by the Public Officials Ethical Commission. New staff is made aware of the Regulations and current staff is reminded periodically about the Regulations.

Table 2d.

Turkey: Assessment of Data Quality—Central Bank of the Republic of Turkey (CBRT)

Table 2d.

Turkey: Assessment of Data Quality—Central Bank of the Republic of Turkey (CBRT)

0. Prerequisites of quality

1. Assurances of integrity

Legal and institutional environment. The compilation and dissemination of monetary and balance of payments statistics are the responsibility of the CBRT, and are governed by the terms and conditions of the CBRT Law of 1970 (Law No. 1211) as amended by Law No. 4651 of April 2001. Article 43 of the CBRT Law authorizes the CBRT to directly request/collect all statistical information needed to exercise surveillance over financial and external developments from banks, other financial institutions, and persons (both legal persons and households). Article 43 protects the confidentiality of collected data. The OSP for 2007-2011 establishes that the CBRT is responsible for the compilation, processing, and dissemination of monetary and balance of payments, IIP, international reserves, private external debt, and short-term debt data. Working arrangements among agencies for the provision of statistical data to the CBRT are adequate. For instance, the CBRT uses surveys conducted by Turkstat to gather BOP data on shuttle trade and travel services. Also, total external debt are compiled/disseminated by the Treasury based on the CBRT data on long-term private external debt and short-term external debt. Resources. Human resources dedicated to compiling monetary and BOP statistics are adequate to perform existing tasks, but further expanding the set of supporting surveys and implementing upcoming methodological upgrades (BPM6) will require some supplementation in due course. Staff are well qualified and staff turnover is low. Data processing equipment are adequate. Efforts are devoted to continued improvement in data quality. Relevance. Users’ data needs are monitored on an ongoing basis, based on monitoring of users’ comments and questions. Reflecting the relevance of the BOP/IIP data, the number of users has doubled since 2001. The CBRT shows its commitment to improve the macroeconomic statistics by participating actively in international statistical workshops and seminars. Other quality management. The CBRT’s authorities are aware that continued efforts are needed to maintain/improve the quality of their statistical production. The compilation and dissemination of high-frequency data on balance of payments (monthly), private external debt (monthly), and IIP (annual, included monthly IIP indicators) further demonstrate this commitment.

Professionalism. Monetary and BOP statistics are compiled on an impartial basis and the terms and conditions under which these statistics are produced promote professional independence. The CBRT enjoys autonomy in carrying out the duties and responsibilities defined in its law. The CBRT Law, which provides the basis for the compilation and dissemination of monetary and BOP statistics, is available on the CBRT website. The CBRT recruits and promotes staff based on aptitude and expertise. Staff demonstrates a high-level of dedication in the face of a heavy workload in responding to the extensive needs of multiple users, including the Monetary Policy Committee, the financial community, the public, and a host of international organizations (EU, IMF, BIS, OECD). A key factor underpinning good statistical performance is that staff are exclusively dedicated to compilation and dissemination responsibilities. Staff participate regularly in methodological courses, seminars, meetings, and conferences centered on monetary, BOP and other external sector statistics organized/sponsored by regional and international organizations Transparency. The laws and regulations under which monetary and BOP statistics are compiled/disseminated are posted on the websites of the CBRT and Turkstat (both in Turkish and English). There is no internal government access to monetary and BOP statistics prior to their release to the public. Monetary and BOP statistics are clearly identified as CBRT products in CBRT publications and the CBRT website, as well as in the OSP. Since 2002, the CBRT website includes a section with announcements about recent methodological changes for BOP statistics, and starting in mid-November 2008, also on future such changes. Recent and upcoming methodological and other changes, including for monetary statistics are at the CBRT website starting from mid-December 2008. Ethical standards. The CBRT Law and the CBRT Code of Conduct provide broad ethical guidelines for CBRT staff. In addition, the Code of Organization and Duties determines the area of work and responsibilities of each Department and Division of the CBRT. These guidelines are fully available to staff.

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Table 2d.

Turkey: Assessment of Data Quality—Central Bank of the Republic of Turkey (CBRT)

0. Prerequisites of quality

1. Assurances of integrity

Legal and institutional environment. The compilation and dissemination of monetary and balance of payments statistics are the responsibility of the CBRT, and are governed by the terms and conditions of the CBRT Law of 1970 (Law No. 1211) as amended by Law No. 4651 of April 2001. Article 43 of the CBRT Law authorizes the CBRT to directly request/collect all statistical information needed to exercise surveillance over financial and external developments from banks, other financial institutions, and persons (both legal persons and households). Article 43 protects the confidentiality of collected data. The OSP for 2007-2011 establishes that the CBRT is responsible for the compilation, processing, and dissemination of monetary and balance of payments, IIP, international reserves, private external debt, and short-term debt data. Working arrangements among agencies for the provision of statistical data to the CBRT are adequate. For instance, the CBRT uses surveys conducted by Turkstat to gather BOP data on shuttle trade and travel services. Also, total external debt are compiled/disseminated by the Treasury based on the CBRT data on long-term private external debt and short-term external debt. Resources. Human resources dedicated to compiling monetary and BOP statistics are adequate to perform existing tasks, but further expanding the set of supporting surveys and implementing upcoming methodological upgrades (BPM6) will require some supplementation in due course. Staff are well qualified and staff turnover is low. Data processing equipment are adequate. Efforts are devoted to continued improvement in data quality. Relevance. Users’ data needs are monitored on an ongoing basis, based on monitoring of users’ comments and questions. Reflecting the relevance of the BOP/IIP data, the number of users has doubled since 2001. The CBRT shows its commitment to improve the macroeconomic statistics by participating actively in international statistical workshops and seminars. Other quality management. The CBRT’s authorities are aware that continued efforts are needed to maintain/improve the quality of their statistical production. The compilation and dissemination of high-frequency data on balance of payments (monthly), private external debt (monthly), and IIP (annual, included monthly IIP indicators) further demonstrate this commitment.

Professionalism. Monetary and BOP statistics are compiled on an impartial basis and the terms and conditions under which these statistics are produced promote professional independence. The CBRT enjoys autonomy in carrying out the duties and responsibilities defined in its law. The CBRT Law, which provides the basis for the compilation and dissemination of monetary and BOP statistics, is available on the CBRT website. The CBRT recruits and promotes staff based on aptitude and expertise. Staff demonstrates a high-level of dedication in the face of a heavy workload in responding to the extensive needs of multiple users, including the Monetary Policy Committee, the financial community, the public, and a host of international organizations (EU, IMF, BIS, OECD). A key factor underpinning good statistical performance is that staff are exclusively dedicated to compilation and dissemination responsibilities. Staff participate regularly in methodological courses, seminars, meetings, and conferences centered on monetary, BOP and other external sector statistics organized/sponsored by regional and international organizations Transparency. The laws and regulations under which monetary and BOP statistics are compiled/disseminated are posted on the websites of the CBRT and Turkstat (both in Turkish and English). There is no internal government access to monetary and BOP statistics prior to their release to the public. Monetary and BOP statistics are clearly identified as CBRT products in CBRT publications and the CBRT website, as well as in the OSP. Since 2002, the CBRT website includes a section with announcements about recent methodological changes for BOP statistics, and starting in mid-November 2008, also on future such changes. Recent and upcoming methodological and other changes, including for monetary statistics are at the CBRT website starting from mid-December 2008. Ethical standards. The CBRT Law and the CBRT Code of Conduct provide broad ethical guidelines for CBRT staff. In addition, the Code of Organization and Duties determines the area of work and responsibilities of each Department and Division of the CBRT. These guidelines are fully available to staff.

Table 3a.

Turkey: Assessment of Data Quality—National Accounts

Table 3a.

Turkey: Assessment of Data Quality—National Accounts

2. Methodological soundness	3. Accuracy and reliability	4. Serviceability	5. Accessibility
Concepts and definitions. The national accounts estimates are prepared in accordance with the recommendations of the 1995 ESA. Turkstat has published GDP series according to 1995 ESA for the period 1998–2007, including a full scale revision of the corresponding quarterly GDP series. Scope. Turkstat compiles and disseminates the range of annual and quarterly national accounts tables recommended by the Intersecretariat Working Group on National Accounts (ISWGNA) except that: (i) the sequence of accounts for the total economy (up to the financial accounts) is not produced; and (ii) supply and use tables have been produced only for benchmark years. Plans are in place for producing supply and use tables annually for 2002 onwards. The economic territory, production and asset boundaries are generally in accordance with 1995 ESA. However, illegal activities are not explicitly included in GDP. Classification/sectorization. Institutional units, transactions, and other flows are classified according to 1995 ESA. The activity and product classifications are consistent with international standards. Basis for recording. Market prices are used for valuation of stocks and flows. Recording is generally done on an accrual basis.	Source data. Annual and quarterly surveys are based on a business register, developed and maintained by Turkstat. New quarterly surveys for service industries and construction are currently being developed. Lack of timeliness has been a major issue for the annual business survey and there are no quarterly collections from enterprises for capital formation or changes in inventories. Assessment of source data. Source data are regularly assessed and feedback provided to data suppliers. Statistical techniques are basically sound, with both production and expenditure estimates compiled at a sufficient level of detail. However, the change in inventories is derived as a balancing item. The base year for constant price estimates is 1998 and chain volume measures are compiled. Data from the annual business survey needs to be incorporated into the system as soon as feasible. Assessment and validation of intermediate data and statistical output. Estimates of household consumption expenditure for goods items, that are derived using a commodity flow approach, are significantly higher than the corresponding estimates from the annual household budget survey. Revision studies. Given limited utilization of independent annual data sources (and hence the limited scope for revisions to the quarterly series), no traditional revisions studies have been undertaken. However, comparisons between old and new estimates are made when historical revisions are undertaken.	Periodicity and timeliness. Periodicity and timeliness of the national accounts meet SDDS requirements. Consistency. Consistent annual time series are generally available from 1968, and quarterly time series from 1987. However, following the historical revision in March 2008, there is a break in all series at 1998. Consistency is maintained between the quarterly and annual national accounts series. In compiling the national accounts, Turkstat uses BOP data provided by the CBRT. Revision policy and practice. Revisions are generally limited to recent quarters, while in the second quarter release quarters of the previous year may be also be revised. A more appropriate revisions policy, allowing revisions to go back three or four years, is envisaged in future.	Data accessibility. Data are initially disseminated via a press release and on the Turkstat website. Time series are also published in various hardcopy publications. The release schedule for the national accounts is preannounced. No quarterly estimates are seasonally adjusted. Metadata accessibility. Metadata are available on the Turkstat website and on the IMF’s DSBB. A detailed sources and methods publication was released in 1994. An updated version is being produced in the form of the GNI Inventory. Assistance to users. Contact information is provided in the press release and on the website.

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Table 3a.

Turkey: Assessment of Data Quality—National Accounts

2. Methodological soundness	3. Accuracy and reliability	4. Serviceability	5. Accessibility
Concepts and definitions. The national accounts estimates are prepared in accordance with the recommendations of the 1995 ESA. Turkstat has published GDP series according to 1995 ESA for the period 1998–2007, including a full scale revision of the corresponding quarterly GDP series. Scope. Turkstat compiles and disseminates the range of annual and quarterly national accounts tables recommended by the Intersecretariat Working Group on National Accounts (ISWGNA) except that: (i) the sequence of accounts for the total economy (up to the financial accounts) is not produced; and (ii) supply and use tables have been produced only for benchmark years. Plans are in place for producing supply and use tables annually for 2002 onwards. The economic territory, production and asset boundaries are generally in accordance with 1995 ESA. However, illegal activities are not explicitly included in GDP. Classification/sectorization. Institutional units, transactions, and other flows are classified according to 1995 ESA. The activity and product classifications are consistent with international standards. Basis for recording. Market prices are used for valuation of stocks and flows. Recording is generally done on an accrual basis.	Source data. Annual and quarterly surveys are based on a business register, developed and maintained by Turkstat. New quarterly surveys for service industries and construction are currently being developed. Lack of timeliness has been a major issue for the annual business survey and there are no quarterly collections from enterprises for capital formation or changes in inventories. Assessment of source data. Source data are regularly assessed and feedback provided to data suppliers. Statistical techniques are basically sound, with both production and expenditure estimates compiled at a sufficient level of detail. However, the change in inventories is derived as a balancing item. The base year for constant price estimates is 1998 and chain volume measures are compiled. Data from the annual business survey needs to be incorporated into the system as soon as feasible. Assessment and validation of intermediate data and statistical output. Estimates of household consumption expenditure for goods items, that are derived using a commodity flow approach, are significantly higher than the corresponding estimates from the annual household budget survey. Revision studies. Given limited utilization of independent annual data sources (and hence the limited scope for revisions to the quarterly series), no traditional revisions studies have been undertaken. However, comparisons between old and new estimates are made when historical revisions are undertaken.	Periodicity and timeliness. Periodicity and timeliness of the national accounts meet SDDS requirements. Consistency. Consistent annual time series are generally available from 1968, and quarterly time series from 1987. However, following the historical revision in March 2008, there is a break in all series at 1998. Consistency is maintained between the quarterly and annual national accounts series. In compiling the national accounts, Turkstat uses BOP data provided by the CBRT. Revision policy and practice. Revisions are generally limited to recent quarters, while in the second quarter release quarters of the previous year may be also be revised. A more appropriate revisions policy, allowing revisions to go back three or four years, is envisaged in future.	Data accessibility. Data are initially disseminated via a press release and on the Turkstat website. Time series are also published in various hardcopy publications. The release schedule for the national accounts is preannounced. No quarterly estimates are seasonally adjusted. Metadata accessibility. Metadata are available on the Turkstat website and on the IMF’s DSBB. A detailed sources and methods publication was released in 1994. An updated version is being produced in the form of the GNI Inventory. Assistance to users. Contact information is provided in the press release and on the website.

Table 3b.

Turkey: Assessment of Data Quality—Consumer Price Index

Table 3b.

Turkey: Assessment of Data Quality—Consumer Price Index

2. Methodological soundness	3. Accuracy and reliability	4. Serviceability	5. Accessibility
Concepts and definitions broadly follow international standards given in 1993 SNA and the Consumer Price Index Manual: Theory andPractice. Scope. The index covers monetary expenditures relating to consumption of all resident households. The index weights exclude own-produced goods, including housing services for owner occupied dwellings. Classification/sectorization. Market basket items are classified according to a national classification system, which is a ten-digit extended version of the Classification of Individual Consumption by Purpose (COICOP). Basis for recording. The valuation rules used for recording flows and stocks are basically in accordance with the 1993 SNA. Prices are market prices paid by households including all taxes levied on the products. However, deviating from international standards, sales of durable goods (such as vehicles) are not netted out from purchases for constructing market basket weights.	Source data. The items and weights are derived from a continuous Household Budget Survey (HBS). The HBS covers approximately 25,000 private households of all socio-economic groups. Weights are updated every year. About 360,000 prices are collected each month from 25,000 outlets in 26 regions and 81cities. Assessment of source data. Prices collected are verified according to strict procedures established for checking price quotations. The weights emerging from the HBS are assessed against other source data (PPI, retail trade, imports, etc). Statistical techniques are in line with recommended practice. The weights, the outlet sample, and the list of products and specifications are reviewed and updated each year. The treatment of missing prices, disappearing goods, and quality adjustments is adequate. The index compilation formulas and aggregation procedures conform to international standards Assessment and validation of intermediate data and statistical outputs. Validation of CPI indices is carried out using the PPI as well as agricultural and import price data. Revision studies are carried out each year prior to updating the weights, the sample of outlets, the list of items, and the product specifications.	Periodicity and timeliness. The CPI is published on the third business day after the reference month. Consistency. Time series data are consistent and available without breaks. Index aggregation procedures are internally consistent. Revision policy and practice. Revisions to the CPI market basket are made each year based on the continuous HBS. The published CPI is not subject to revision, as it is final when released.	Data accessibility. The principal results of the CPI are disseminated every month on the Turkstat website and in the hardcopy “Press Release: Consumer Price Index Month/Year.” The CPI is simultaneously released to all users. The press release includes: (1) A brief analysis of the important changes in the index; (2) A chart comparing the 12-month percent changes for the current and previous year; (3) A series of tables presenting percent changes for one month, 12 months, current month to December of the previous year, and a 12 month moving average of percent changes. These tables cover the 12 major COICOP groups, the 26 regions, historical indices for four years and special indices such as core inflation indices. In addition complete historical data are available on the Turkstat website. Metadata accessibility. Metadata on the CPI are available on the Turkstat website. Assistance to users. A contact person along with contact information including a telephone number and e-mail address is available on the Turkstat website.

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Table 3b.

Turkey: Assessment of Data Quality—Consumer Price Index

2. Methodological soundness	3. Accuracy and reliability	4. Serviceability	5. Accessibility
Concepts and definitions broadly follow international standards given in 1993 SNA and the Consumer Price Index Manual: Theory andPractice. Scope. The index covers monetary expenditures relating to consumption of all resident households. The index weights exclude own-produced goods, including housing services for owner occupied dwellings. Classification/sectorization. Market basket items are classified according to a national classification system, which is a ten-digit extended version of the Classification of Individual Consumption by Purpose (COICOP). Basis for recording. The valuation rules used for recording flows and stocks are basically in accordance with the 1993 SNA. Prices are market prices paid by households including all taxes levied on the products. However, deviating from international standards, sales of durable goods (such as vehicles) are not netted out from purchases for constructing market basket weights.	Source data. The items and weights are derived from a continuous Household Budget Survey (HBS). The HBS covers approximately 25,000 private households of all socio-economic groups. Weights are updated every year. About 360,000 prices are collected each month from 25,000 outlets in 26 regions and 81cities. Assessment of source data. Prices collected are verified according to strict procedures established for checking price quotations. The weights emerging from the HBS are assessed against other source data (PPI, retail trade, imports, etc). Statistical techniques are in line with recommended practice. The weights, the outlet sample, and the list of products and specifications are reviewed and updated each year. The treatment of missing prices, disappearing goods, and quality adjustments is adequate. The index compilation formulas and aggregation procedures conform to international standards Assessment and validation of intermediate data and statistical outputs. Validation of CPI indices is carried out using the PPI as well as agricultural and import price data. Revision studies are carried out each year prior to updating the weights, the sample of outlets, the list of items, and the product specifications.	Periodicity and timeliness. The CPI is published on the third business day after the reference month. Consistency. Time series data are consistent and available without breaks. Index aggregation procedures are internally consistent. Revision policy and practice. Revisions to the CPI market basket are made each year based on the continuous HBS. The published CPI is not subject to revision, as it is final when released.	Data accessibility. The principal results of the CPI are disseminated every month on the Turkstat website and in the hardcopy “Press Release: Consumer Price Index Month/Year.” The CPI is simultaneously released to all users. The press release includes: (1) A brief analysis of the important changes in the index; (2) A chart comparing the 12-month percent changes for the current and previous year; (3) A series of tables presenting percent changes for one month, 12 months, current month to December of the previous year, and a 12 month moving average of percent changes. These tables cover the 12 major COICOP groups, the 26 regions, historical indices for four years and special indices such as core inflation indices. In addition complete historical data are available on the Turkstat website. Metadata accessibility. Metadata on the CPI are available on the Turkstat website. Assistance to users. A contact person along with contact information including a telephone number and e-mail address is available on the Turkstat website.

Table 3c.

Turkey: Assessment of Data Quality—Producer Price Index

Table 3c.

Turkey: Assessment of Data Quality—Producer Price Index

2. Methodological soundness	3. Accuracy and reliability	4. Serviceability	5. Accessibility
Concepts and definitions broadly follow international standards given in 1993 SNA and the Producer Price Index Manual: Theory and Practice, although the PPI is compiled only by product and not by economic activity. Scope. The PPI covers agriculture, fishing, mining, manufacturing and electricity, gas and water production. It does not cover exports and the service sector. The enterprises and commodities accounting for the largest value of domestic sales from production are chosen for the index. Classification/sectorization. Economic activities are classified using the Statistical Classification of Economic Activities in the European Community, Revision 1.1 (NACE Rev. 1.1). Products are classified using a 10-digit classification system associated with the EUROSTAT System for the Collection and Dissemination of Statistics on the Production of Manufactured Goods (PRODCOM). The national classification system includes three extra digits for more detail. Basis for recording. Prices are recorded net of excises, VAT, and other taxes on products.	Source data. The weights used for the index are based on industrial production data for 2005 and the agricultural and mining and energy censuses of 2005. Approximately 13,200 monthly price quotations are collected for 756 items from a survey of 1,725 firms. The coverage of the surveyed products represents approximately 70-80 percent of the nationwide share in total production. Assessment of source data. Prices collected are verified according to strict procedures established for checking price quotations. The weights emerging from the industrial and agricultural surveys are assessed against other source data (CPI, retail trade, imports, etc). Statistical techniques are in line with recommended practice. The weights, the sample of establishments, and the lists of products and specifications are reviewed and updated each year. The treatment of missing prices, the disappearance of products, and quality adjustments is adequate. Index compilation procedures are unbiased and in accordance with international recommendations. Assessment and validation of intermediate data and statistical outputs. Validation of PPI indices is carried out using the CPI as well as import and export price data. Revision studies are carried out each year prior to updating the weights, the sample of establishments, the list of items and the product specifications.	Periodicity and timeliness. The PPI is published on the third business day after the reference month. Consistency. Time series data are consistent and available without breaks. Index aggregation procedures are internally consistent. Revision policy and practice. The PPI weighs are updated each year based on the industrial and agricultural surveys. The published PPI is not subject to revisions since it is final when released	Data accessibility. The main aggregates of the PPI are disseminated every month on the Turkstat website and in the hardcopy “Press Release: Producer Prices Index Month/Year.” The PPI is simultaneously released to all users. The press release includes: (1) A brief analysis of the important changes in the index; (2) A chart comparing the 12 month percent changes for the current and previous year; (3) A series of tables presenting percent changes for one month, 12 months, current month to December of the previous year, and a 12 month moving average of percent changes. These tables cover NACE categories at the two-digit division level and historical indices for four years. In addition complete historical data are available on the Turkstat website. Metadata accessibility. Metadata on the PPI are available on the Turkstat website. Assistance to users. A contact person along with contact information including a telephone number and e-mail address is available on the Turkstat website.

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Table 3c.

Turkey: Assessment of Data Quality—Producer Price Index

2. Methodological soundness	3. Accuracy and reliability	4. Serviceability	5. Accessibility
Concepts and definitions broadly follow international standards given in 1993 SNA and the Producer Price Index Manual: Theory and Practice, although the PPI is compiled only by product and not by economic activity. Scope. The PPI covers agriculture, fishing, mining, manufacturing and electricity, gas and water production. It does not cover exports and the service sector. The enterprises and commodities accounting for the largest value of domestic sales from production are chosen for the index. Classification/sectorization. Economic activities are classified using the Statistical Classification of Economic Activities in the European Community, Revision 1.1 (NACE Rev. 1.1). Products are classified using a 10-digit classification system associated with the EUROSTAT System for the Collection and Dissemination of Statistics on the Production of Manufactured Goods (PRODCOM). The national classification system includes three extra digits for more detail. Basis for recording. Prices are recorded net of excises, VAT, and other taxes on products.	Source data. The weights used for the index are based on industrial production data for 2005 and the agricultural and mining and energy censuses of 2005. Approximately 13,200 monthly price quotations are collected for 756 items from a survey of 1,725 firms. The coverage of the surveyed products represents approximately 70-80 percent of the nationwide share in total production. Assessment of source data. Prices collected are verified according to strict procedures established for checking price quotations. The weights emerging from the industrial and agricultural surveys are assessed against other source data (CPI, retail trade, imports, etc). Statistical techniques are in line with recommended practice. The weights, the sample of establishments, and the lists of products and specifications are reviewed and updated each year. The treatment of missing prices, the disappearance of products, and quality adjustments is adequate. Index compilation procedures are unbiased and in accordance with international recommendations. Assessment and validation of intermediate data and statistical outputs. Validation of PPI indices is carried out using the CPI as well as import and export price data. Revision studies are carried out each year prior to updating the weights, the sample of establishments, the list of items and the product specifications.	Periodicity and timeliness. The PPI is published on the third business day after the reference month. Consistency. Time series data are consistent and available without breaks. Index aggregation procedures are internally consistent. Revision policy and practice. The PPI weighs are updated each year based on the industrial and agricultural surveys. The published PPI is not subject to revisions since it is final when released	Data accessibility. The main aggregates of the PPI are disseminated every month on the Turkstat website and in the hardcopy “Press Release: Producer Prices Index Month/Year.” The PPI is simultaneously released to all users. The press release includes: (1) A brief analysis of the important changes in the index; (2) A chart comparing the 12 month percent changes for the current and previous year; (3) A series of tables presenting percent changes for one month, 12 months, current month to December of the previous year, and a 12 month moving average of percent changes. These tables cover NACE categories at the two-digit division level and historical indices for four years. In addition complete historical data are available on the Turkstat website. Metadata accessibility. Metadata on the PPI are available on the Turkstat website. Assistance to users. A contact person along with contact information including a telephone number and e-mail address is available on the Turkstat website.

Table 3d.

Turkey: Assessment of Data Quality—Government Finance Statistics

Table 3d.

Turkey: Assessment of Data Quality—Government Finance Statistics

2. Methodological soundness	3. Accuracy and reliability	4. Serviceability	5. Accessibility
Concepts and definitions of budgetary data are broadly consistent with those in the Manual of Government Finance Statistics1986 (GFSM 1986). However, the MOF has started to implement the guidelines in the European System of Accounts 1995 (ESA 95) and the Government Finance Statistics Manual 2001 (GFSM 2001), including accrual recording of transactions. Scope. The SPO publishes data on the consolidated public sector finances on an annual basis. The MOF has begun work to produce and disseminate central government data consistent with the GFSM 2001. The MOF has yet to compile data on local government units and social security institutions to allow production of general government data. There is some room to expand the comprehensiveness of data on the total debt of local governments. Classification/sectorization. The 2005 Public Financial Management and Control Law has defined the general government sector and its subsectors. National classifications are bridged to those of the GFSM 2001. The MOF and other agencies are finalizing a national sectorization consistent with the GFSM 2001. Basis for recording. Generally, data are recorded on a mixed basis: revenue on a cash basis; and expenditure, on a commitment basis. All central government entities have adopted modified accrual accounting rules since 2006. Such accounting framework is being extended to the local governments and social security institutions.	Source data. Two major data sources are used: revenue and expenditure data compiled by the MOF and financing and debt data, by the Treasury; the automated say 2000i provides a centralized information system. In its newly constructed website, the SPO collects data on local government entities for use in its preparation of Turkey’s Annual Programs and other policy-oriented publications. Assessment of source data. Some procedures are in place to assess source data; corrections are made when reporting errors are detected. Statistical techniques. The MOF has yet to deploy appropriate adjustments to newly available source data to derive general government statistics. Other techniques have improved in recent years; computerization has enhanced the feasibility of compiling higher frequency data. Assessment and validation of intermediate data and statistical outputs. Data are checked against accounting and budget data. The Court of Accounts audits aggregate data against accounting records of agencies at the end of each budget cycle. Budget realizations are subject to validation assessments undertaken by the SPO as part of its work in preparing the Annual Programs. Revision studies. Revisions are tracked to inform statistical practice, particularly for the compilation of the broadest fiscal aggregates (SPO). However, studies and analyses of revisions are not regularly conducted by all agencies.	Periodicity and timeliness prescribed by the SDDS are observed and exceeded in some areas. Consistency. Due to recent modifications of concepts and classifications, consistent time series are being developed. Regular consistency checks with other data sets are seldom conducted. Revision policy and practice. Major revisions are disseminated along with explanatory notes. However, a well-specified revision policy is lacking.	Data accessibility. Publication by the MOF of unconsolidated accounts of the central government and the local government operations has created the risk of misinterpretation of the data. This is because some inter-governmental transactions are not netted out, thus generating double-counting problems. Detailed data are accessible on the Turkish versions of the websites of the MOF and Treasury. The English and Turkish versions of the Treasury’s website are comprehensive. However, the English language MOF website is less comprehensive than the Turkish version. Both Turkish and English versions of Turkey’s Annual Programs, Pre-Accession Economic Program, and Medium-Term Program are accessible on the SPO website. Only summary data on extrabudgetary funds are published in the SPO documents. Data are released on a regular schedule to all users simultaneously, and in excel format for users’ convenience. Advance release calendars are disseminated on Turkstat’s Economic Indicators, and on the Treasury website. MOF intends to develop additional ARCs for higher frequency data. Metadata accessibility. Brief explanatory notes on definitions, methodology, sources, and contact information accompany the published data. Although additional information on methodologies and data sources is available upon request, published metadata have insufficient detail relative to user needs. Despite the wealth of data published, there is a lack of a roadmap to guide users on the nature of different datasets and to help them access the data that meet their needs, and to direct via hyperlinks. Assistance to users. Email addresses and telephone numbers of contact persons are disseminated along with the released data.

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Table 3d.

Turkey: Assessment of Data Quality—Government Finance Statistics

2. Methodological soundness	3. Accuracy and reliability	4. Serviceability	5. Accessibility
Concepts and definitions of budgetary data are broadly consistent with those in the Manual of Government Finance Statistics1986 (GFSM 1986). However, the MOF has started to implement the guidelines in the European System of Accounts 1995 (ESA 95) and the Government Finance Statistics Manual 2001 (GFSM 2001), including accrual recording of transactions. Scope. The SPO publishes data on the consolidated public sector finances on an annual basis. The MOF has begun work to produce and disseminate central government data consistent with the GFSM 2001. The MOF has yet to compile data on local government units and social security institutions to allow production of general government data. There is some room to expand the comprehensiveness of data on the total debt of local governments. Classification/sectorization. The 2005 Public Financial Management and Control Law has defined the general government sector and its subsectors. National classifications are bridged to those of the GFSM 2001. The MOF and other agencies are finalizing a national sectorization consistent with the GFSM 2001. Basis for recording. Generally, data are recorded on a mixed basis: revenue on a cash basis; and expenditure, on a commitment basis. All central government entities have adopted modified accrual accounting rules since 2006. Such accounting framework is being extended to the local governments and social security institutions.	Source data. Two major data sources are used: revenue and expenditure data compiled by the MOF and financing and debt data, by the Treasury; the automated say 2000i provides a centralized information system. In its newly constructed website, the SPO collects data on local government entities for use in its preparation of Turkey’s Annual Programs and other policy-oriented publications. Assessment of source data. Some procedures are in place to assess source data; corrections are made when reporting errors are detected. Statistical techniques. The MOF has yet to deploy appropriate adjustments to newly available source data to derive general government statistics. Other techniques have improved in recent years; computerization has enhanced the feasibility of compiling higher frequency data. Assessment and validation of intermediate data and statistical outputs. Data are checked against accounting and budget data. The Court of Accounts audits aggregate data against accounting records of agencies at the end of each budget cycle. Budget realizations are subject to validation assessments undertaken by the SPO as part of its work in preparing the Annual Programs. Revision studies. Revisions are tracked to inform statistical practice, particularly for the compilation of the broadest fiscal aggregates (SPO). However, studies and analyses of revisions are not regularly conducted by all agencies.	Periodicity and timeliness prescribed by the SDDS are observed and exceeded in some areas. Consistency. Due to recent modifications of concepts and classifications, consistent time series are being developed. Regular consistency checks with other data sets are seldom conducted. Revision policy and practice. Major revisions are disseminated along with explanatory notes. However, a well-specified revision policy is lacking.	Data accessibility. Publication by the MOF of unconsolidated accounts of the central government and the local government operations has created the risk of misinterpretation of the data. This is because some inter-governmental transactions are not netted out, thus generating double-counting problems. Detailed data are accessible on the Turkish versions of the websites of the MOF and Treasury. The English and Turkish versions of the Treasury’s website are comprehensive. However, the English language MOF website is less comprehensive than the Turkish version. Both Turkish and English versions of Turkey’s Annual Programs, Pre-Accession Economic Program, and Medium-Term Program are accessible on the SPO website. Only summary data on extrabudgetary funds are published in the SPO documents. Data are released on a regular schedule to all users simultaneously, and in excel format for users’ convenience. Advance release calendars are disseminated on Turkstat’s Economic Indicators, and on the Treasury website. MOF intends to develop additional ARCs for higher frequency data. Metadata accessibility. Brief explanatory notes on definitions, methodology, sources, and contact information accompany the published data. Although additional information on methodologies and data sources is available upon request, published metadata have insufficient detail relative to user needs. Despite the wealth of data published, there is a lack of a roadmap to guide users on the nature of different datasets and to help them access the data that meet their needs, and to direct via hyperlinks. Assistance to users. Email addresses and telephone numbers of contact persons are disseminated along with the released data.

Table 3e.

Turkey: Assessment of Data Quality—Balance of Payments

Table 3e.

Turkey: Assessment of Data Quality—Balance of Payments

2. Methodological soundness	3. Accuracy and reliability	4. Serviceability	5. Accessibility
Concepts and definitions broadly follow BPM5, including for resident units (such as enterprises operating in free trade zones and offshore entities) and direct investment. Foreign currency deposits held with the CBRT by Turkish citizens residing abroad are adequately recorded in Turkey’s template on international reserves and foreign currency liquidity. Scope is broadly consistent with BPM5. Transactions between residents and nonresidents are broadly covered, including shuttle trade, reinvestment earnings, debt securities issued abroad held by residents, and domestic securities held by nonresidents. Tracking of certain transactions on external deposits of the nonbank private sector and noncash loan disbursements to the public sector could be strengthened. Classification/sectorization has been broadly in line with BPM5 guidelines since 2002, but there is some room for further improvement. Equity assets are not separately identified from debt security assets, and financial derivatives are commingled with portfolio investment. Basis for recording. Most data are valued at market prices and converted into U.S. dollars using the recommended procedures. Some transactions are recorded on cash basis (rather than on accrual basis).	Source data are broadly adequate to compile BOP data. Since 2001, several new (or improved) surveys have supplemented banks’ foreign exchange records. Key sources include (i) trade data compiled by Turkstat; (ii) banks’ foreign exchange records; (iii) surveys conducted by Turkstat (shuttle and travel) and CBRT (inward FDI, portfolio investment assets, and various services); and (iv) administrative data. Assessment of source data is routine, including banks’ foreign exchange records and surveys. Survey response rates are very high. Statistical techniques. Adequate procedures are used to minimize errors and to adjust data for missing information. Also, sound procedures are used to improve coverage and classification of source data, including adjustments to trade data, and estimations of some services, income, and trade credits. Assessment and validation of intermediate data and statistical outputs Statistical discrepancies are assessed and data validated. Errors and omissions are monitored (around V percent of GDP for 2002-2007). Comparisons with trading partner trade data (DOTS) and creditors’ data (JEDH), as well as regular detailed BOP/IIP reconciliation (in tabular form) could further strengthen validation procedures. Revision studies. Data revisions are carried out routinely and the results are considered in compiling data for subsequent periods.	Periodicity and timeliness of BOP statistics exceed the SDDS prescriptions (monthly data are published with six weeks timeliness). In addition, the CBRT disseminates annual IIP data with six months timelines and, since April 2008, IIP monthly indicators with seven weeks timeliness. Consistency. BOP data are broadly consistent internally and over time. For the most part, data are consistent or reconcilable with other datasets, including merchandise trade, IIP, external debt, and MFS. There are limited regular reconciliation exercises with GFS and national accounts. Revision policy and practice. Monthly data are provisional when first released and data are revised monthly subject to data availability. When major revisions to the BOP are made, the revision is announced on the CBRT website. Starting in mid-November 2008, the CBRT publicizes its revision policy.	Data accessibility. BOP data are disseminated in accordance to BPM5 standard components with annual data series since 1987 and monthly data since 1992. Comprehensive and detailed data are disseminated, with charts and tables to facilitate analysis. Data are made available to all users at the same time on the CBRT website and released on a preannounced schedule. Metadata accessibility. Comprehensive and updated documentation on the conceptual framework, sources, and methods for BOP compilation (including examples) is available at the CBRT website. Metadata are also included in BOP publications and at Fund’s DSBB. Metadata are included in IIP publications and posted in the IMF website, but no comprehensive document on IIP metadata is produced. Assistance to users is adequate. Contact points for BOP/IIP data are in CBRT website and the Fund’s DSBB. Prompt assistance is provided to users, in line with the 2003 Information Access Law.

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Table 3e.

Turkey: Assessment of Data Quality—Balance of Payments

2. Methodological soundness	3. Accuracy and reliability	4. Serviceability	5. Accessibility
Concepts and definitions broadly follow BPM5, including for resident units (such as enterprises operating in free trade zones and offshore entities) and direct investment. Foreign currency deposits held with the CBRT by Turkish citizens residing abroad are adequately recorded in Turkey’s template on international reserves and foreign currency liquidity. Scope is broadly consistent with BPM5. Transactions between residents and nonresidents are broadly covered, including shuttle trade, reinvestment earnings, debt securities issued abroad held by residents, and domestic securities held by nonresidents. Tracking of certain transactions on external deposits of the nonbank private sector and noncash loan disbursements to the public sector could be strengthened. Classification/sectorization has been broadly in line with BPM5 guidelines since 2002, but there is some room for further improvement. Equity assets are not separately identified from debt security assets, and financial derivatives are commingled with portfolio investment. Basis for recording. Most data are valued at market prices and converted into U.S. dollars using the recommended procedures. Some transactions are recorded on cash basis (rather than on accrual basis).	Source data are broadly adequate to compile BOP data. Since 2001, several new (or improved) surveys have supplemented banks’ foreign exchange records. Key sources include (i) trade data compiled by Turkstat; (ii) banks’ foreign exchange records; (iii) surveys conducted by Turkstat (shuttle and travel) and CBRT (inward FDI, portfolio investment assets, and various services); and (iv) administrative data. Assessment of source data is routine, including banks’ foreign exchange records and surveys. Survey response rates are very high. Statistical techniques. Adequate procedures are used to minimize errors and to adjust data for missing information. Also, sound procedures are used to improve coverage and classification of source data, including adjustments to trade data, and estimations of some services, income, and trade credits. Assessment and validation of intermediate data and statistical outputs Statistical discrepancies are assessed and data validated. Errors and omissions are monitored (around V percent of GDP for 2002-2007). Comparisons with trading partner trade data (DOTS) and creditors’ data (JEDH), as well as regular detailed BOP/IIP reconciliation (in tabular form) could further strengthen validation procedures. Revision studies. Data revisions are carried out routinely and the results are considered in compiling data for subsequent periods.	Periodicity and timeliness of BOP statistics exceed the SDDS prescriptions (monthly data are published with six weeks timeliness). In addition, the CBRT disseminates annual IIP data with six months timelines and, since April 2008, IIP monthly indicators with seven weeks timeliness. Consistency. BOP data are broadly consistent internally and over time. For the most part, data are consistent or reconcilable with other datasets, including merchandise trade, IIP, external debt, and MFS. There are limited regular reconciliation exercises with GFS and national accounts. Revision policy and practice. Monthly data are provisional when first released and data are revised monthly subject to data availability. When major revisions to the BOP are made, the revision is announced on the CBRT website. Starting in mid-November 2008, the CBRT publicizes its revision policy.	Data accessibility. BOP data are disseminated in accordance to BPM5 standard components with annual data series since 1987 and monthly data since 1992. Comprehensive and detailed data are disseminated, with charts and tables to facilitate analysis. Data are made available to all users at the same time on the CBRT website and released on a preannounced schedule. Metadata accessibility. Comprehensive and updated documentation on the conceptual framework, sources, and methods for BOP compilation (including examples) is available at the CBRT website. Metadata are also included in BOP publications and at Fund’s DSBB. Metadata are included in IIP publications and posted in the IMF website, but no comprehensive document on IIP metadata is produced. Assistance to users is adequate. Contact points for BOP/IIP data are in CBRT website and the Fund’s DSBB. Prompt assistance is provided to users, in line with the 2003 Information Access Law.

Table 3f.

Turkey: Assessment of Data Quality—Monetary Statistics

Table 3f.

Turkey: Assessment of Data Quality—Monetary Statistics

2. Methodological soundness	3. Accuracy and reliability	4. Serviceability	5. Accessibility
Concepts and definitions. Monetary statistics are broadly consistent with the Monetary and Financial Statistics Manual (MFSM) albeit some different terminologies are used. The CBRT disseminates the monetary survey, which is similar to the depository corporations survey as defined in the MFSM. Scope. The scope of the monetary statistics is consistent with the MFSM. This is because the monetary statistics cover the CBRT and the other depository corporations (ODCs)—commercial banks, participation banks, investment and development banks, and money market funds (MMFs) issuing “Type B” liquid funds. Classification/sectorization. The principles used are largely in line with the MFSM. Although each published individual table does not cover all details as presented in the MFSM formats, all published tables combined provide most details. However, financial derivatives as well as positions vis-à-vis MMFs are not separately identified. Basis for recording. Valuation of assets is broadly consistent with the MFSM except that monetary gold is valued only on a quarterly basis and accrued interest is not included in the value of the underlying instruments.	Source data. Data for both the CBRT and banks are obtained electronically via a comprehensive system. Owing to extensive and rigorous reporting requirements, data for banks are often available only after 23 business days. Also, MMFs’ liabilities are assumed to be to households as a sectoral breakdown is not available. Assessment of source data. The reporting forms are occasionally revised to reflect changes in the accounting records and the compilers’ need. The data processing and production is fully computerized. Problems with source data are resolved directly with reporting banks. Statistical techniques. Monetary statistics are derived electronically, thus minimizing errors. If data for some banks are not available on time, the previous month’s data are used. Generally, source data are not adjusted. Assessment and validation of intermediate data and statistical outputs The quality of source data is controlled through a computerized cross-check program. The data accuracy is also checked against secondary data sources, such as data for supervisory purposes and data compiled by other CBRT departments. Revision studies. Revision studies are conducted occasionally and taken into account by staff in their work. Revised data are archived.	Periodicity and timeliness Turkey meet the SDDS requirements on periodicity, but take a flexibility option on the timeliness of the banking sector data, which are published with a lag of over two months. Data are disseminated according to an advance release calendar. Consistency. Consistent time series are available for a long period. Changes to data series are explained in the footnotes of the statistical tables. However, consistency checks with government finance statistics are rarely conducted. There are some inconsistencies between published fiscal data and monetary data on government accounts. Data on transactions between the CBRT and ODCs are not fully consistent. Revision policy and practice Any revision is taken into account in compiling data for the subsequent periods. Starting in mid-December 2008 revision practices are made public.	Data accessibility. The monthly monetary statistics are disseminated in the CBRT’s website and the Quarterly Bulletin, available in Turkish and English. Weekly data are disseminated in “Weekly Press Bulletin,” which is also available in website. Publication contains tables of major categories of assets and liabilities with further breakdown by detailed components. Users can download data series from the website as far back as January 1986. Data are disseminated to all users at the same time based on the advance release calendar, which is posted on the CBRT’s website. Metadata accessibility. SDDS metadata and summary methodologies on the DSBB are updated on a regular basis. Footnotes explaining the changes to data are provided under each statistical table. Information on the methodology used to compile monetary statistics was made available at the CBRT’s website starting in mid-December 2008. Assistance to users. Data users can reach a contact person using the address and e-mail provided on the CBRT’s website, and by direct contact with the CBRT. A subscription form is available on the website.

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Table 3f.

Turkey: Assessment of Data Quality—Monetary Statistics

2. Methodological soundness	3. Accuracy and reliability	4. Serviceability	5. Accessibility
Concepts and definitions. Monetary statistics are broadly consistent with the Monetary and Financial Statistics Manual (MFSM) albeit some different terminologies are used. The CBRT disseminates the monetary survey, which is similar to the depository corporations survey as defined in the MFSM. Scope. The scope of the monetary statistics is consistent with the MFSM. This is because the monetary statistics cover the CBRT and the other depository corporations (ODCs)—commercial banks, participation banks, investment and development banks, and money market funds (MMFs) issuing “Type B” liquid funds. Classification/sectorization. The principles used are largely in line with the MFSM. Although each published individual table does not cover all details as presented in the MFSM formats, all published tables combined provide most details. However, financial derivatives as well as positions vis-à-vis MMFs are not separately identified. Basis for recording. Valuation of assets is broadly consistent with the MFSM except that monetary gold is valued only on a quarterly basis and accrued interest is not included in the value of the underlying instruments.	Source data. Data for both the CBRT and banks are obtained electronically via a comprehensive system. Owing to extensive and rigorous reporting requirements, data for banks are often available only after 23 business days. Also, MMFs’ liabilities are assumed to be to households as a sectoral breakdown is not available. Assessment of source data. The reporting forms are occasionally revised to reflect changes in the accounting records and the compilers’ need. The data processing and production is fully computerized. Problems with source data are resolved directly with reporting banks. Statistical techniques. Monetary statistics are derived electronically, thus minimizing errors. If data for some banks are not available on time, the previous month’s data are used. Generally, source data are not adjusted. Assessment and validation of intermediate data and statistical outputs The quality of source data is controlled through a computerized cross-check program. The data accuracy is also checked against secondary data sources, such as data for supervisory purposes and data compiled by other CBRT departments. Revision studies. Revision studies are conducted occasionally and taken into account by staff in their work. Revised data are archived.	Periodicity and timeliness Turkey meet the SDDS requirements on periodicity, but take a flexibility option on the timeliness of the banking sector data, which are published with a lag of over two months. Data are disseminated according to an advance release calendar. Consistency. Consistent time series are available for a long period. Changes to data series are explained in the footnotes of the statistical tables. However, consistency checks with government finance statistics are rarely conducted. There are some inconsistencies between published fiscal data and monetary data on government accounts. Data on transactions between the CBRT and ODCs are not fully consistent. Revision policy and practice Any revision is taken into account in compiling data for the subsequent periods. Starting in mid-December 2008 revision practices are made public.	Data accessibility. The monthly monetary statistics are disseminated in the CBRT’s website and the Quarterly Bulletin, available in Turkish and English. Weekly data are disseminated in “Weekly Press Bulletin,” which is also available in website. Publication contains tables of major categories of assets and liabilities with further breakdown by detailed components. Users can download data series from the website as far back as January 1986. Data are disseminated to all users at the same time based on the advance release calendar, which is posted on the CBRT’s website. Metadata accessibility. SDDS metadata and summary methodologies on the DSBB are updated on a regular basis. Footnotes explaining the changes to data are provided under each statistical table. Information on the methodology used to compile monetary statistics was made available at the CBRT’s website starting in mid-December 2008. Assistance to users. Data users can reach a contact person using the address and e-mail provided on the CBRT’s website, and by direct contact with the CBRT. A subscription form is available on the website.

14. To inform its assessment, the mission conducted a user survey and interviewed selected users eliciting views on the macroeconomic statistics. While survey responses and interviews were few (13 survey responses and six additional interviews), results confirmed the findings of the 2001 data ROSC mission and those of the User Satisfaction Survey conducted by Turkstat in 2004. In particular, there was overall satisfaction with the macroeconomic statistics, although users aspired to more detail, better timeliness, and more robust inter-dataset consistency. Users appeared to be more satisfied with price, monetary, and balance of payments statistics. They saw more scope for improvement in the publication of the national accounts (particularly coverage and detail) and in the GFS (data on local governments and social security funds as well as metadata). Users were interested in more frequency for the GFS and better timeliness for the national accounts, balance of payments, and government finance statistics. Interest in greater timeliness came with readiness to accommodate more revisions under a clear policy of revisions, with respondents pointing to the need for more information on such policies. Users were aware of advance release calendars, except in the case of the GFS. All users obtained data through websites and virtually all were satisfied with data accessibility, except for a fifth of the users of the national accounts. Many respondents pointed to a need for better access to metadata and improved user support.

III. Staff’s Recommendations

15. Staff’s recommendations are aimed at redressing shortcomings identified in the assessments, which are based on the review of statistical practices, discussions with the data producing agencies, and input from users. Recommendations propose ways to further increase observance of international standards. Their implementation would help enhance the usefulness of the published macroeconomic statistics. Some additional technical suggestions are included in the companion Detailed Assessments volume.