Feasibility of the improvement of annual financial accounts aggregates

closed

<b><i>Please note that this is not a call for tenders but a publication announcing the Contracting authority’s intention to publish a future negotiated low or middle value procedure (read more <a href="https://ec.europa.eu/docsroom/documents/40287" target="_blank">here</a></i></b>).<br></br>The subject of this call for tenders is analytical and methodological support actions with the aim to improve the quality of national accounts in the area of annual financial accounts. The statistical services forming the subject of this invitation to tender is to assist Eurostat in compiling European aggregates for annual financial sector accounts. Eurostat’s role is to compile aggregates for euro area and European Union. Primarily source is member states data but due to recent developments the method used in the past needs to be improved. The approach in the past was due to limited financial assets and liabilities on EA /EU level. It is not in line with recent developments due to Covid-19 outbreak. European commission introduced NextGenerationEU recovery instrument to help repair the immediate economic and social damage brought about by the coronavirus pandemic worth more than €800 billion. Eurostat’s role will be to reflect borrowings and related financial transactions in its aggregates on top of member states data. At the end of this contract Eurostat will have better view on potential changes in compilation method of European aggregates for EA/EU. The work involves an analysis of current compilation method used by Eurostat compared to proposed method including variations of key financial instruments, identification and economic analysis of outliers, proposals for in-depth data validation checks of new aggregates as well as alternative information for data crosschecks. All the analysis work will be based on publicly disseminated data compared to newly proposed estimates. The work programme also covers presentations of the results in Eurostat’s Task force on annual financial accounts.