Friday, July 11, 2025
  • About
  • Advertise
  • Privacy Policy
  • Cookie Policy
  • Contact
  • Subscribe
  • E-edition
  • Login
  • Register
  • Home
  • News
  • Economy
  • E-Edition
  • Companies & Markets
  • In Business With
  • Lifestyle
    • Motoring
  • Sports
    BTA seeks sponsorship to host World Junior Tennis tournament

    ‘International Tennis Tournaments Drive Economic Growth’- Thipe

    From Promise to Pause: The Support Gap Holding Back Botswana’s Female Athletes

    From Promise to Pause: The Support Gap Holding Back Botswana’s Female Athletes

    Orebonye’s Defiant Rise Through North Africa’s Football Battleground

    Orebonye’s Defiant Rise Through North Africa’s Football Battleground

    Botswana Emerges as Sporting Powerhouse at 2025 RASA

    Botswana Emerges as Sporting Powerhouse at 2025 RASA

    With Eyes on Morocco, Botswana’s Mares Gear Up for WAFCON 2025 Amid Rising Hopes and Renewed Support

    With Eyes on Morocco, Botswana’s Mares Gear Up for WAFCON 2025 Amid Rising Hopes and Renewed Support

    Business Mind, Football Heart: Babitseng’s Journey to the COSAFA Executive

    Business Mind, Football Heart: Babitseng’s Journey to the COSAFA Executive

  • Subscribe
No Result
View All Result
  • Home
  • News
  • Economy
  • E-Edition
  • Companies & Markets
  • In Business With
  • Lifestyle
    • Motoring
  • Sports
    BTA seeks sponsorship to host World Junior Tennis tournament

    ‘International Tennis Tournaments Drive Economic Growth’- Thipe

    From Promise to Pause: The Support Gap Holding Back Botswana’s Female Athletes

    From Promise to Pause: The Support Gap Holding Back Botswana’s Female Athletes

    Orebonye’s Defiant Rise Through North Africa’s Football Battleground

    Orebonye’s Defiant Rise Through North Africa’s Football Battleground

    Botswana Emerges as Sporting Powerhouse at 2025 RASA

    Botswana Emerges as Sporting Powerhouse at 2025 RASA

    With Eyes on Morocco, Botswana’s Mares Gear Up for WAFCON 2025 Amid Rising Hopes and Renewed Support

    With Eyes on Morocco, Botswana’s Mares Gear Up for WAFCON 2025 Amid Rising Hopes and Renewed Support

    Business Mind, Football Heart: Babitseng’s Journey to the COSAFA Executive

    Business Mind, Football Heart: Babitseng’s Journey to the COSAFA Executive

  • Subscribe
No Result
View All Result
The Business Weekly & Review
No Result
View All Result
Home Economy

Reliable national data is critical for development – IMF

IMF report focuses on improving the quality of national accounts statistics.

mm by Kabo Ramasia
October 8, 2021
in Economy
Reading Time: 2 mins read
0
Reliable national data is critical for development – IMF
Share on FacebookShare on Twitter

The International Monetary Fund (IMF) has buttressed the need for reliable national data recording to guide policy direction and economic development, a new report says.

The report also makes several recommendations to Statistics Botswana to improve its capturing of data in Botswana.

According to the IMF Technical Assistance Report titled “Botswana: Report on the National Accounts Mission, June 2021” that was released recently, a remote technical assistance (TA) mission was conducted by IMF’s Regional Technical Assistance Centre for Southern Africa (AFS) during 12–16 April 2021 to help Statistics Botswana (SB) improve the quality of the national accounts statistics.

In the report, the IMF underlines the essence of factual data capturing in economic development. “Reliable national accounts are essential for informed economic policymaking by the authorities,” the report reads. “It also provides the private sector, foreign investors, rating agencies, donors and the public in general with important inputs in their decision-making while informing economic analysis and IMF surveillance.”

The report’s System of National Accounts 2008 (2008 SNA) recommends that Botswana’s national accounts be rebased every five years and notes that rebasing requires comprehensive surveys and ideally, supply and use (of) tables to support coherent checking of data.

In a summary of the technical assessment, the IMF says Statistics Botswana (SB) has made considerable progress in populating the System Under Test (SUT) and the process is nearly complete.

“Since the last mission, the margin matrix, taxes and subsidies on products, input matrix, government consumption and capital formation have been populated,” says the report.

“However, there are a few outstanding items to be included, such as financial intermediation services indirectly measured (FISIM) and the informal sector estimates. The method for allocating margins and taxes to products were reviewed and deemed to be sound.”

According to the report, the data balancing process has commenced but several issues have been raised by the mission before the process can be finalised.

“In particular, the SB should compare the revised input-output ratios with the current input-output ratios and validate and document any significant changes, ensure intermediate consumption (IC) compared to household final consumption expenditure is reasonable when balancing the products, ensure that products such as electricity, water and telecommunications are attributed to all/most industries, and document all assumptions and data sources used in compiling and balancing the SUTs,” the report notes.

Botswana’s report shows that the country is making progress because it has started implementing the recommendations from the previous IMF mission, which was in October 2020.

It states that the October 2020 mission strongly recommended that SB review the preliminary estimates of gross value added (GVA) prior to balancing the SUT.

“SB needed to analyse the revisions to current GVA estimates, the revised input-output ratios and implicit price deflators (IPDs) before finalising the preliminary estimates,” says the IMF.

Statistics Botswana had intended to include corporate income tax in its annual estimates. However, that has not been done due to a systems challenge at Botswana Unified Revenue Service (BURS). In light of this, Statistics Botswana will obtain data from BURS once the system is upgraded.

The IMF disclosed that Statistics Botswana is receiving support from Mr. Jan Redeby, who is an African Development Bank (AfDB) consultant, to facilitate concluding the rebasing of the national accounts.

Tags: International Monetary FundStatistics Botswana

Navigation

  • Home
  • News
  • Economy
  • E-Edition
  • Companies & Markets
  • In Business With
  • Lifestyle
    • Motoring
  • Sports
  • Subscribe

Recent News

  • July 11th Edition
  • ‘International Tennis Tournaments Drive Economic Growth’- Thipe
  • No tax on 100% employer-borne medical excesses
  • Product Mix Drives Revenue Growth at Seed Co
  • Higher Education Ministry Suspends Aviation Sponsorships

Site

  • About
  • Advertise
  • Privacy Policy
  • Cookie Policy
  • Contact
  • Subscribe
  • E-edition

© 2021 The Business Weekly & Review. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
  • Economy
  • E-Edition
  • Companies & Markets
  • In Business With
  • Lifestyle
    • Motoring
  • Sports
  • Subscribe

© 2021 The Business Weekly & Review. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?