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REVISION OF ESA 95 Joint UNECE / OECD / Eurostat meeting on National Accounts Geneva, April 2008

Agenda item 3. REVISION OF ESA 95 Joint UNECE / OECD / Eurostat meeting on National Accounts Geneva, April 2008. ESA VERSUS SNA (1). ESA is broadly consistent with SNA as regards the definitions, accounting rules and classifications

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REVISION OF ESA 95 Joint UNECE / OECD / Eurostat meeting on National Accounts Geneva, April 2008

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  1. Agenda item 3 REVISION OF ESA 95Joint UNECE / OECD / Eurostat meeting on National AccountsGeneva, April 2008

  2. ESA VERSUS SNA (1) • ESA is broadly consistent with SNA as regards the definitions, accounting rules and classifications • ESA nevertheless incorporates certain differences, particularly in its presentation, which is more in line with its use in the EU • ESA is a tool for European policy (own resources of the EU, structural funds, EDP and convergence)

  3. ESA VERSUS SNA (2) • ESA is based on a regulation comprising binding rules to ensure comparability at EU level, and a compulsory transmission programme • When SNA is flexible and includes several options, ESA generally chooses a particular option for more consistency at EU level

  4. PRESENTATION OF ESA (as compared with SNA presentation) • In the ESA, there are separate chapters on transactions in products, distributive transactions and financial transactions • ESA describes a concept by providing a definition and a listing of what is included and what is excluded • ESA adds specific clarifications (ex: 50% rule, Fisim,…)

  5. SCOPE OF THE PROJECT (1) • The revision of ESA 95 will set up, for many years, the National Accounts standards • The project will start from the consolidated text, which is the text of (EC) Council Regulation no. 2223/96, later amended by several regulations • The revision will cover all the recommendations and clarifications agreed at international level, also ISWGNA decisions • A more integrated system should be developed. Many statistical areas linked to National Accounts will be impacted

  6. SCOPE OF THE PROJECT (2) New chapters will be included • A specific chapter on government and public sectors • A specific chapter on links between business accounts and national accounts and measurement of corporate activity • A specific chapter on European accounts • A specific chapter presenting a common framework and general principles on satellite accounts • A specific chapter on the rest of the world account More elaborated chapters on price and volume measures, infra-annual and regional accounts

  7. HOW TO ENSURE THE SUCCES OF THIS PROJECT • Monitoring of the project by the Directors of National Accounts (strategic decisions, examination of important issues) • With the help of a steering group of Directors of National Accounts chaired by Eurostat • Regular reporting to the SPC, the EFC sub-commitee on statistics, the CMFB

  8. KEY MILESTONES (1) • Drafting and discussions of chapters: March 2008 to February 2009 (12 months). This would require the involvement of three external highly-experimented experts • Timing of chapters: drafting (1 or 2 months); Eurostat internal review (1 month); chapter on the site for comments (1 month); draft of version 2 (1 month); Eurostat final approval (1 month)

  9. KEY MILESTONES (2) • Discussion on the amended transmission programme: September 2008 to February 2009 • Finalisation of the draft, launch of the interservice consultation, adoption of the Commission proposal: February to June 2009 • Adoption of the regulation by the European Parliament and the Council: first quarter 2011 • Implementation of the new ESA methodology and transmission programme: 2014

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