National Statistical Institute

National Non-financial Accounts

Elena Bakalova

Viktoria Spasova

Chief expert

Junior expert

2 P. Volov Str., Sofia 1038

[email protected]

[email protected]

+359 2 9857 540

+359 2 9857 222

Sector accounts indicate the relationship between institutional sectors on key macroeconomic indicators:

· Gross added value estimation / Gross Domestic Product ;

· External balance of goods and services;

· An operating surplus / mixed income, gross;

· Primary income - received minus paid;

· Balance of primary incomes, gross / gross national income;

· Current transfers - received minus paid;

· Disposable income, gross final consumption expenditure ;

· Actual final consumption;

· Gross savings / current external balance;

· Capital transfers - received minus paid;

· Gross fixed capital formation;

· Change in inventories;

· Net lending (+) / net borrowing (-) loans.

Balancing item net lending / net borrowing determines the final result of the production activity, distribution and redistribution operations, saving and accumulation of non-financial assets at each institutional sector and the whole economy to the rest of the world.

European System of Accounts (ESA 2010) - classification of units by institutional sectors

Economy by institutional sectors.

Macro - economic analysis does not consider the actions of each institutional unit separately it considers the aggregate activities of similar institutions. So units are combined into groups called institutional sectors, some of which are divided into subsectors. Each sector and subsector groups together the institutional units which have a similar type of economic behaviour.

Institutional units are grouped into sectors according to what kind of producer is and depending on their core activities and functions that are considered to be indicative of their economic behavior. Economic sectors are as follows:

· Non-financial corporations

· Financial corporations

- Monetary financial institutions (MFIs)

- Central bank

- Other monetary financial institutions (OMFI)

- Financial corporations except MFIs and Insurance corporations and pension funds (ICPFs)

- Non-MMF investment funds

- Other financial intermediaries, except insurance corporations and pension funds

- Financial auxiliaries

- Captive financial institutions and money lenders

- ICPFs

- Insurance corporations (IC)

- Pension funds (PF)

· General government

- Central government (excluding social security funds)

- State government (excluding social security funds)

- Local government (excluding social security funds)

- Social security funds

· Households

- Employers and own-account workers

- Employees

- Recipients of property and transfer income

- Recipients of other transfers

- Recipients of pensions

- Recipients of property income

· Non-profit institutions serving households

· Rest of the world

- Member States and institutions and bodies of the European Union

- Member States of the European Union

- Institutions and bodies of the European Union

- Non-member countries and international organisations non-resident in the European Union

Institutional unit under ESA 2010 - enterprise, household, public institution.

Economic territory of the country

Bulgaria

from 2000 (Infostat)

Information sources for the development:

~Macroeconomic indicators of non-financial national accounts;

~Annual statistical and accounting reports:

   - Annual report of non-financial corporations;

   - Annual report of non-profit organizations;

~ Administrative data:

  - Consolidated reports on implementation of the state budget;

  - Customs information;

  - Tax information;

  - Balance of payment;

  - Additional information from ministries and agencies;

Annually

Exhaustively on an annual basis

Implementation of validated procedures for assessing data quality

Implementation of validated procedures for assessing the quality of data and the development of estimation of the completeness of the data.

Not applicable.

· European Statistics Code of Practice;

· Common framework for quality management in the National Statistical System.

Questionnaire on the implementation of the principles of the European Statistics Code of Practice.

In practice, the system of national accounts, there are two main types of revisions. The first type of audits is ongoing, regular characterized by the presence of new or updated statistical information based on statistical surveys or administrative sources. The second type of revisions is related to a change in the methodology and calculation procedures for specific statistical indicators.

National accounts data are subject to continuous routine revisions as new input data becomes available. This will typically also entail revisions of the national accounts aggregates, which are derived from these data. In BG national accounts two types of revisions are: regular –  preliminary, final data; and main - based on implementation of new methodology or GNI reservations.

· The annual estimates - the sum of estimates of quarterly data - T +65 days after the reporting period;

· Updated annual data - T +9 months after the reporting period;

· Final data - balance sheets "Resource-Use" - T +3 years.

The annual estimates - the sum of estimates of quarterly data - T +65 days after the reporting period

· Updated annual data - T +9 months after the reporting period
· Final data - balance sheets "Resource -Use" - T+3 years

Additional information on other indicators in national accounts is available in other subject areas related to national accounts.

Publication "Main Macroeconomic Indicators".

Data are available to all users of the NSI website under the heading Macroeconomic statistics - Non-financial national accounts by institutional sectors: http://www.nsi.bg/en/node/5547

Not applicable.

European system of accounts (ESA 2010)

• Law on Statistics;

· Regulation (EC) No 223/2009 on European statistics (recital 24 and Article 20(4)) of 11 March 2009 (OJ L 87, p. 164), stipulates the need to establish common principles and guidelines ensuring the confidentiality of data used for the production of European statistics and the access to those confidential data with due account for technical developments and the requirements of users in a democratic society.