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06270-9781451887921.Pdf © 2005 International Monetary Fund May 2005 IMF Country Report No. 05/161 Slovak Republic: Report on the Observance of Standards and Codes— Data Module, Response by the Authorities, and Detailed Assessments Using the Data Quality Assessment Framework This Report on the Observance of Standards and Codes on the Data Module for the Slovak Republic was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. It is based on the information available at the time it was completed on April 29, 2005. The views expressed in this document are those of the staff team and do not necessarily reflect the views of the government of the Slovak Republic or the Executive Board of the IMF. The Response by the Authorities on this report and the Detailed Assessments Using the Data Quality Assessment Framework are also included. The policy of publication of staff reports and other documents by the IMF allows for the deletion of market-sensitive information. To assist the IMF in evaluating the publication policy, reader comments are invited and may be sent by e-mail to [email protected]. Copies of this report are available to the public from International Monetary Fund ● Publication Services 700 19th Street, N.W. ● Washington, D.C. 20431 Telephone: (202) 623 7430 ● Telefax: (202) 623 7201 E-mail: [email protected] ● Internet: http://www.imf.org Price: $15.00 a copy International Monetary Fund Washington, D.C. ©International Monetary Fund. Not for Redistribution This page intentionally left blank ©International Monetary Fund. Not for Redistribution INTERNATIONAL MONETARY FUND SLOVAK REPUBLIC Report on the Observance of Standards and Codes (ROSC)—Data Module Prepared by the Statistics Department Approved by William E. Alexander and Michael C. Deppler April 29, 2005 The Report on the Observance of Standards and Codes (ROSC)—data module—provides an assessment of Slovak Republic’s macroeconomic statistics against the Special Data Dissemination Standard (SDDS), complemented by an assessment of data quality based on the IMF’s Data Quality Assessment Framework (DQAF July 2003). The DQAF lays out internationally accepted practices in statistics, ranging from good governance in data- producing agencies to practices specific to datasets. The datasets covered in this report are: national accounts, consumer and producer price indices, government finance, monetary, and balance of payments statistics. The agencies that compile the datasets assessed in this report are the Statistical Office of the Slovak Republic, the National Bank of Slovakia, and the Ministry of Finance. The datasets to which this report pertains can be accessed in print and on the Internet: SOSR: http://www.statistics.sk NBS: http://www.nbs.sk MOF: http://finance.gov.ski This report is based on information provided prior to and during a staff mission from February 18–March 3, 2004 and publicly available information. The mission team, headed by Mr. Ethan Weisman, comprised Mmes. Margaret Fitzgibbon and Maria Mantcheva, Messrs. Ewe-Ghee Lim, Paul Shevchenko (all STA), and David Collins (Expert), and Ms. Arlene Tayas (Administrative Assistant, STA). ©International Monetary Fund. Not for Redistribution - 2 - Contents Page Acronyms...................................................................................................................................3 Executive Summary...................................................................................................................4 I. Introduction ...........................................................................................................................5 II. Data Dissemination Practices and the Special Data Dissemination Standard ......................5 Data dimension: coverage, periodicity, and timeliness .................................................6 Access dimension...........................................................................................................6 Integrity dimension........................................................................................................7 Quality dimension..........................................................................................................7 Monitoring of data .........................................................................................................7 III. Summary Assessment of Data Quality ................................................................................9 Prerequisites of quality ..................................................................................................9 Assurances of integrity ................................................................................................10 Methodological soundness...........................................................................................11 Accuracy and reliability...............................................................................................12 Serviceability ...............................................................................................................14 Accessibility.................................................................................................................15 IV. Staff’s Recommendations..................................................................................................16 Cross-Cutting Recommendations ................................................................................16 Institutional Arrangements...........................................................................................17 National Accounts........................................................................................................17 Consumer Price Index..................................................................................................18 Producer Price Index....................................................................................................18 Government Finance Statistics ....................................................................................18 Monetary Statistics.......................................................................................................19 Balance of Payments Statistics ....................................................................................19 Text Tables 1. Overview of Current Practices Regarding Coverage, Periodicity, and Timeliness of Data Compared to the SDDS.........................................................................................8 2. DQAF—Summary Presentation of Results .........................................................................20 ©International Monetary Fund. Not for Redistribution - 3 - ACRONYMS 1993 SNA System of National Accounts 1993 1995 ESA European System of Accounts 1995 BPM5 Balance of Payments Manual, fifth edition CPI Consumer Price Index DQAF Data Quality Assessment Framework DSBB Dissemination Standards Bulletin Board ECB European Central Bank Eurostat Statistical Office of the European Communities HMS Harmonized Monetary Statistics IMF International Monetary Fund MFSM Monetary and Financial Statistics Manual MOF Ministry of Finance NBS National Bank of Slovakia NMS National Monetary Statistics NPF National Property Fund PPI Producer Price Index ROSC Report on the Observance of Standards and Codes SDDS Special Data Dissemination Standard SOSR Statistical Office of the Slovak Republic STA IMF’s Statistics Department ©International Monetary Fund. Not for Redistribution - 4 - EXECUTIVE SUMMARY This Report on the Observance of Standards and Codes data module provides a review of the Slovak Republic’s data dissemination practices against the IMF’s Special Data Dissemination Standard (SDDS), complemented by the in-depth assessment of the quality of the national accounts, consumer price index, producer price index, government finance, monetary, and balance of payments statistics. The agencies that compile the statistics assessed in this report are the Statistical Office of the Slovak Republic (SOSR), the National Bank of Slovakia (NBS), and the Ministry of Finance (MOF). The assessment was carried out by a mission from the Statistics Department that visited Bratislava, Slovak Republic during February 18–March 3, 2004. The mission reached the following main conclusions: • SDDS observance/subscription: The Slovak Republic has subscribed to the SDDS since 1996 and observes or exceeds all of the prescriptions of these standards. The National Summary Data Page is hyperlinked to the Dissemination Standards Bulletin Board. • Prerequisites of quality: Statistical agencies generally have a legal and institutional framework that supports statistical quality, although the formal legal mandate to disseminate statistics should be made explicit. Resources are generally adequate for existing statistical programs; however, low wages at the SOSR (relative to other public sector agencies) mitigate against staff retention. Additional resources for the SOSR and MOF would be required to pursue needed statistical improvements and strengthen related transparency. All agencies demonstrate quality management as a cornerstone of their statistical work. • Assurances of integrity: All agencies demonstrate a high level of professionalism, and provide guidelines on ethical conduct for staff. In general, compilers are transparent in their policies and practices, although advance notification of methodological and other changes is not given. • Methodological soundness: Methodological practices
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