National Accounts

ended

Since ESA 2010 is a consistent and integrated system of accounts, one could expect that the final results should be harmonised so that no discrepancies between non-financial and financial accounts are recorded. However, this is hardly achievable in practice since different data sources are used in compilation processes and even different institutions are responsible for production of these data sets. Taking this into account, the main target is to minimize those discrepancies. Statisticians in Lithuania did not pay appropriate attention and resources for minimization of vertical discrepancies till now, therefore, inconsistencies between net lending / net borrowing (B.9) by sector from non-financial and financial accounts (B.9F) are rather significant. Elaboration of possible methods for analysis and reduction of discrepancies would be the main achievement during this project. The project will aim to analyse all recommendations available on this subject, to assess the possible weaknesses in the currently used data sources, and identifying ways to improve alignment. This will require to cooperate compilers of non- financial and financial sector accounts, that are produced by two institutions. Furthermore, an agreement for harmonised revision of time series will be very important aspect for achievement of the main aim of the project. It is expected that achievements of the project will have long term character, and that the results of the project will be the first step for further improvements, harmonisation and reduction of biases between Lithuanian non-financial and financial sector accounts