ORDER OF THE CABINET OF MINISTERS OF UKRAINE

of July 25, 2002 No. 413-r

About approval of the Concept of development of system of national accounts

1. Approve the Concept of development of system of national accounts it (is applied).

2. To give to Goskomstat together with Ministry of Economics, the Ministry of Finance, the State Treasury, State Tax Administration and National Bank till December 15, 2002. To the Cabinet of Ministers of Ukraine the draft of the Development program of system of national accounts prepared based on the Concept approved by this order.

Approved by the order of the Cabinet of Ministers of Ukraine of July 25, 2002 No. 413-r

Concept of development of system of national accounts

1. General part

This Concept determines the priority directions of enhancement of system of national accounts (further - the satellite navigation system) which shall form the basis of activities of bodies of the state statistics. At the same time implementation of the Concept can promote transformation of macroeconomic indicators which are used by other executive bodies, first of all Ministry of Economics, the Ministry of Finance, and also National Bank.

The satellite navigation system is complex, consecutive, approved system of assessment of economic transactions and indicators which are applied to the description and the analysis of macroeconomic processes. National accounts display end-to-end movement of product flows and services, the income and financial resources at all stages economic vosproizvedeniyaot productions before final consumption, accumulating and forming of national wealth.

The modern management system economy at the macrolevel cannot function without satellite navigation system which gives the chance to carry out monitoring, to perform modeling, forecasting and regulation of development of economy, assessment of results of realization of the state economic policy, the international macroeconomic comparisons. Nowadays the system of national accounts is implemented in the majority of the countries of the world.

The System of national accounts accepted in 1993 by the Commission of the European communities, the International Monetary Fund, Organization for Economic Cooperation and Development, the United Nations and World bank is taken as methodological basis of the satellite navigation system in Ukraine. Shall meet for sense of the satellite navigation system also the requirements of the European system of national and regional accounts accepted in 1995.

2. Current state of national bookkeeping and problem of its development

Transition of macroeconomic statistics to the principles of the satellite navigation system is begun with adoption of the resolution of the Cabinet of Ministers of Ukraine of December 28, 1992 N 727 "About implementation of system of national accounts". Today international standards of national bookkeeping are mastered in Ukraine in naisushchestvenneyshy elements. So, calculations of the main indicator of the satellite navigation system - gross domestic product (further - GDP) are systematically perfromed by production method and method of end use. GDP of the country is calculated on annual, quarter and monthly basis, in the actual and comparable prices. Also annual calculations of gross value added for regions are perfromed. It gives the chance to determine role of regions in economy, to carry out the complex analysis of their economic development and comparison of economic potential as within the country, and behind its borders.

Transition from cumulative system of quarter accounting of GDP (the accruing result since the beginning of year) to discrete calculations took place. Specific and positive feature of the satellite navigation system organization in Ukraine are monthly estimates of GDP which become available to governing bodies and the public for the 15th day after completion of the accounting period and give the chance most quickly to trace economic dynamics.

With annual frequency accounts of production, education, distribution and use of the income, capital transactions in institution sectors (groups of economic actors) - non-financial and finance corporations, bodies of general public administration, households, non-profit organizations which serve households are constituted.

Since 1994 according to the satellite navigation systems standards the tables "costs release" (cross-industry balances) are developed. Nowadays they are constituted at the prices of consumers and at the so-called basis (basic) prices that gives the chance to analyze influence on pricing of distribution of indirect taxes, trade and transport markups as by types of economic activity where production of the corresponding goods and services, and in the directions of their use is performed.

In 2001 national bookkeeping, as well as other industries of statistics, passed with one of the first among the CIS countries to Classification of types of economic activity (further - KVED) which is harmonized with similar classification of the European Union, Thanks to it appeared possibility of carrying out direct structural comparisons, macroeconomic indicators in Ukraine and EU countries which facilitates the analysis of integration processes.

Terms of creation of national accounts are reduced. By the order of the Cabinet of Ministers of Ukraine of August 9, 2001 N 341 it is determined that the publication of these national accounts and the tables "costs release" shall come to an end no later than December of the following for reporting years.

At the same time implementation process in full international standards of national bookkeeping cannot be considered complete. The international experience demonstrates that even in developed countries this process is quite long. In Ukraine the problem of adaptation of method of calculation of separate indicators of the satellite navigation system, implementation of new accounts, creation of the integrated information resources of national bookkeeping using modern computer technologies is not solvable yet.

Solutions of these questions are stated in the following Sections of the Concept.

3. Gross internal product

Quality and timeliness of estimates of GDP is one of decisive factors for realistic assessment of economic resources of society and participation of the state in their distribution.

For the purpose of the best synchronization of annual calculations of GDP with macroeconomic forecasting and the budget process by example of developed countries it is supposed to perform transition from Tric of four-stage updating of these payment under the following scheme:

1) operational - for the 15th day after accounting year based on data on dynamics of production volumes on main types of economic activity and extrapolation estimates;

2) preliminary - in February of the following for reporting years according to preliminary data statistics of production and consumption, the income and costs of the budget and bank system, paying balance;

3) specified - in April of the following for reporting years taking into account results of statistical observations for the IV quarter;

4) final - in December of the following for reporting years based on the complete massif of annual statistical observations, administrative data and by results of balancing of the table "costs release".

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