2024-03-11 06:54:23
DIG/ The differences observed in recent years between data from the General Directorate of Statistics and macroeconomic forecasts from the General Directorate of Economy suggest that these figures, necessary for calculating gross domestic product (GDP), are not reliable.
On several occasions, international financial bodies such as the International Monetary Fund (IMF) had already attracted the attention of the former authorities and even during their recent mission at the beginning of February 2024 on the need for consistency in national accounts figures.
The working session chaired on February 28, 2024 by the Prime Minister of the Transition, Raymond Ndong Sima in the presence of the Vice Prime Minister, Minister of Planning and Foresight, Alexandre Barro Chambrier, the Minister of Oil, Marcel Abéké as well as technicians from the Ministry of Planning and the Economy aimed to organize the contours of a real clean-up of the framework for producing statistical data and macroeconomic forecasts in our country.
“Disproportionate discrepancies suggest that the figures produced are unreal. We have a duty to correct our calculation methods,” the Head of Government suggested from the outset.
It is in fact a question of cleaning up the production of GDP and to bring existing data into consistency and have a coherent position for the country.
“The initiative of the highest authorities is timely. It will allow us to make the data that we produce at the statistical level and at the General Directorate of the Economy more and more reliable.
There are some consistency issues that need to be resolved. The Prime Minister indicated that there was a need to correct and return the data which gives the country credibility at the international level.
We will bring out the reality of the figures that must be produced” for his part, indicated Tiwinot Francis Thierry, the chief of staff of the VPM.
Consistency* It is ultimately up to the two administrative entities to come together and explore, as recommended by the Prime Minister, all avenues of macroeconomic coherence with a calculation of GDP from all angles, real, monetary and financial. .
“When you have a GDP that is not strong, your ratios go adrift and the country can be discredited.
GDP is used to calculate the debt ratio. An important ratio which makes it possible to define whether the country’s debt level is sustainable. It is also an indicator of the country’s wealth when calculated per capita., added Mr Tiwinot.
It is therefore a data collection system that should be attacked with a good method because statistical data depends on declaratives.
According to technicians, this allows, both at the statistical level, to be able to develop estimates and valuation of a certain number of aggregates. At the level of the economy, these are forecasts which are based on a certain number of strong hypotheses which rest on solid foundations and to do this there should be no contradictions between the forecasts and what is achieved.
(Source : L’Union)
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