The system of National Accounts of Uzbekistan and international standards

The full and correct reflection of the socio-economic events taking place in the country in statistical indicators allows for an in-depth analysis of the results of large-scale reforms, correctly assess the effectiveness of the benefits provided and the investments attracted, as well as make impartial decisions based on them, develop effective plans and programs. This situation shows how important it is to bring the indicators of national accounts in line with international methodologies.

Today, most developed countries form their indicators of national accounts in accordance with the provisions of the international standard "SNA-2008" of the United Nations and the International Monetary Fund (IMF). According to the IMF, one of the 193 member countries forms indicators of national accounts based on the rules of the international standard "SNA-1968", 56 states - "SNA-1993" and 136 countries - "SNA-2008". 
Uzbekistan's experience
The introduction of the international SNA methodology into the practice of national statistics of Uzbekistan was initiated on the basis of the relevant resolution of the Cabinet of Ministers of 1994. 
In 2017-2022, the State Committee of the Republic of Uzbekistan on Statistics (now the Statistics Agency under the President of the Republic of Uzbekistan) methods for calculating indicators of national accounts were brought into line with the provisions of the international methodology "SNA-2008", and certain works were carried out on their basis.
Thus, the indicators of the SNA, statistics of public finances and the balance of payments have been agreed. At the same time, it was decided to make calculations of GDP in accordance with the statistics of public finances and the balance of payments and publish them on the official website of the committee (agency). Based on these calculations, dynamic series of GDP and related macroeconomic indicators have been formed and published since 2010 - annual and quarterly since 2017.
Quarterly national accounts have been improved by introducing the practice of calculating GDP based on discrete quarters. The resolution of the State Statistics Committee "On the introduction of experience in calculating indicators of economic statistics for discrete periods in the context of industries" was adopted on February 8, 2021.
International classifiers have been introduced to calculate statistical indicators. When calculating GDP by the end-use method, the final consumption expenditures of public administration bodies are formed according to the Classification of Functions of Public Administration Bodies.
The indicator of household final consumption expenditures as part of GDP, calculated by the end-use method, is based on the Classification of individual consumption by goals.
Improved accounting of capital transactions due to the introduction of a Classifier of fixed assets. The classification by type of assets has been approved.
In addition, Uzbekistan has developed a system of statistical indicators that assess the development of the digital economy. A joint resolution was signed by the Ministry for the Development of Information Technologies and Communications of the Republic of Uzbekistan (now the Ministry of Digital Technologies) and Goskomstat (now the agency) "On the implementation of additional measures to maintain digital economy statistics in the Republic of Uzbekistan and the introduction of a system of cumulative indicators of the information economy and e-commerce". This decision approved the consolidated indicator "Information Economy and e-commerce" and the list of activities included in it.
The procedure for calculating the volume of gross value added in the field of information economy and e-commerce has been developed and approved by the relevant resolution of the State Statistics Committee.
The assessment of housing services provided by homeowners for their own consumption is adapted to the international methodology "SNA-2008". By the resolution of the State Statistics Committee of August 29, 2020, Methodological provisions on the assessment of housing services produced by homeowners for their own consumption were developed and approved.
The historical dynamic series of GDP and related macroeconomic indicators have been recalculated, including conditional housing services produced by homeowners for their own consumption.
The change in the method of assessing housing services produced by homeowners for their own consumption in 2016-2020 caused a decrease in GDP growth by 0.1-0.2 percent. 
As the final stage of these processes, calculations of the output of financial intermediation services measured indirectly (UFPIC) for 2017-2022 were carried out on the basis of the requirements of the international methodology "SNA-2008" in accordance with the recommendations of experts of the IMF and ADB, on the basis of Methodological Provisions for calculating the output of financial intermediation services measured indirectly (developed by Goskomstat).
As a result of the introduction of an improved method for calculating the output of UFPIC, the nominal GDP for 2021 increased from 734.9 trillion soums to 738.4 trillion soums (by 0.5 percent), and the real GDP growth rate did not change (remained at 7.4 percent).
Upcoming tasks to improve the SNA in the Republic
In the future, certain tasks will have to be solved to improve the SNA in Uzbekistan. Among them:
- further improvement of the methodology for calculating GDP in constant prices (calculation in the average prices of the base year and the introduction of the double deflation method);
- implementation of the practice of estimating the "Input and output" tables in constant prices;
- participation in the next global stage of the international comparison program;
- improving the practice of assessing the unobservable economy based on international recommendations;
- further improvement of the personnel capacity in the field of SNA.
As a result of the beginning of systematic work in these main areas, the elimination of existing problems and the full implementation of the tasks set, the quality of SNA indicators will be improved and transparency will be increased. This, in turn, will give a more complete description of the national economy of our country, will increase the level of international comparison of statistical indicators by harmonizing calculations of macroeconomic indicators with international methodology. 
This activity will expand the possibilities of conducting macroeconomic analysis, as well as make indicators reflecting the economy of Uzbekistan more understandable to foreign investors. This will allow our country to achieve an increase in investment attractiveness and positions in international ratings.

Abrorali Mamajanov. 
Head of the Department of the Statistics Agency, Doctor of Philosophy in Economic Sciences (PhD).