Harmonization of the Government Finance Statistics Manual 2014 and the System of National Accounts 2008

The article is focused on considering issues of harmonizing the Government finance statistics manual (published by IMF in 2014) with the SNA 2008. In this regard the authors highlighted the fact that the underlying concepts and definitions of these two systems of macroeconomic statistics are practically identical. They refer to concepts of distribution and redistribution of income, definition of sector of general government, classification of assets. However treatment of some important transactions is not harmonized; for example, this refers to the treatment of government expenditures on military durables, output of central banks, financial intermediation transactions. The article provides an example of the scheme of linking indicators of government finance statistics and the SNA. The authors have developed «transition tables», i.e. matching algorithm for corresponding performance indicators (or their elements) of units of the general government sector in both systems. The following two tables are considered as an example. The first one describes the steps required for computing indicator of general government sector output on the basis of data on its costs. The second table reflects the relationship between the index of intermediate consumption in the 2008 SNA and the indicators of use of goods and services in the GFSM 2014. The authors argue in favour of implementing a phased approach to using indicators from the IMF manual to compile general government sector accounts within the SNA: a first step could be to focus on indicators of economic transactions, and leave recording stocks and liabilities in the balance sheet to a later date.

статистика государственных финансов, национальные счета, сектор государственного управления, гармонизация, экономическая операция, трансферты, доходы от собственности, активы и обязательства, распределение и перераспределение доходов, чистый капитал, government finance statistics, national accounts, sector of general government, harmonization, economic transaction, transfers, income from property, assets and liabilities, distribution and redistribution of income, net worth

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