1st February 2019, Skopje – On 28th January this year, Macedonia adhered to the highest IMF statistical data dissemination standard – SDDS Plus.   Adherence to SDDS Plus means greater confidence at the international institutions and investors, as well as international positioning of the country. This was pointed out by the Minister of Finance, Dragan Tevdovski, at a joint press conference with the Governor of the NBRM, Anita Angelovska – Bezhoska, and the Director of the State Statistical Office, Apostol Simovski.

-This will contribute to greater confidence and position at the international financial organizations, credit rating agencies and, most importantly, at the investors. High statistical standards are crucial for both the international investors and the international institutions. If they believe in the data, they believe in the state. Adhering to the SDDS Plus strengthens the credibility of the country internationally, Tevdovski said.

Governor Angelovska-Bezhoska underlined that this was a great set forward, confirming the quality of our statistical system.

-Republic of Macedonia is the eighteen country worldwide and second in Southeast Europe adhering to the SDDS Plus – the first among the countries in the region not yet being EU Member States, said the Governor, pointing out that this successful joint project was a clear confirmation of the commitment of these three institutions to constantly upgrade the national statistics and their harmonization with the latest and the highest international statistical standards.

SSO Director, Simovski, said that bodies performing statistical surveys recognized the significance and the importance of applying the IMF standards as early as the beginning of 2000, when they started to jointly work on fulfilling the criteria for the first GDDS standard, which the Republic of Macedonia adhered to in February 2004.

-Just for comparison purposes, countries in the region – Serbia, Bosnia and Herzegovina, Albania and Kosovo, still adhere to this standard, said Simovski, underlining that in November 2011 already, Republic of Macedonia adhered to the higher SDDS standard – Special Data Dissemination System, which included Slovenia, Croatia, Belgium, Greece, Hungary, the Russian Federation, etc.

The United States, Canada, France, Germany, Austria, Italy, Sweden and Japan are all part of the SDDS Plus, a standard which our country adhered to just few days ago.

Adherence to this IMF standard will significantly increase the capacity of the Macedonian economy to timely identify and prevent the vulnerabilities of the financial sector, as well as the potential risks to the cross-sector exposures.

Fulfilling the requirements for adherence to the SDDS Plus implies preparation of nine new categories of data, seven out of which are within the competence of the NBRM, while two fall within MoF competence. Coordinator of the working group, which diligently worked on the adherence to this standard, was the SSO, as coordinator of the national statistical system.

Following the adherence to the SDDS Plus, bodies performing statistical surveys are to face more challenges. In particular, once the first five statistical indicators are prepared and submitted, in the coming period, four more statistical indicators, pertaining to securities statistics, financial accounts statistics and public finance statistics, will be submitted as part of this IMF standard. “We have a vision, we have teams comprising reliable professional working daily on meeting the goals set under the SDDS Plus, excellent inter-institutional cooperation is in place … All this, which is necessary to build and develop modern and quality statistics, is a guarantee we will make it to the end”.

 

 

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