MEFMI/AFRITAC South and East conduct Seminar on National Accounts for Beginners

Due to the overwhelming demand from various key stakeholders, there has been mounting pressure for the MEFMI region to produce timely, accurate, comprehensive and reliable Gross Domestic Product (GDP) estimates. For better policymaking and surveillance, compilation of annual and quarterly GDP at current prices as well as in volume terms using the production and expenditure approaches is essential. However, challenges persist in the compilation of GDP based on the conceptual framework of the System of National Accounts 2008 (2008 SNA). This has been exacerbated by high staff turnover in the region.

It is on this basis that MEFMI, jointly with AFS and AFE, conducted a regional seminar on National Accounts for beginners on the basics of national accounts compilation methods and practices from 6 to 10 December 2021. The main objective of the seminar was to provide capacity to participants on the compilation of GDP at current prices as well as in volume terms using the production and expenditure approaches in line with the conceptual framework of the 2008 SNA. The five‐day seminar focused on the concepts underpinning the compilation of the national accounts as well as the methods and data sources used to measure GDP. The knowledge gained from this seminar is expected to enhance the availability of timely and comprehensive statistics in member countries, thus contributing to sound macroeconomic policies and the efficient functioning of financial markets. MEFMI will continue to engage specific country officials to explore potential in-country missions to address data gaps that were identified during the seminar.

The seminar was attended by 68 participants from 18 countries including 13 MEFMI member countries and five (5) other non-MEFMI countries (South Africa, Seychelles, Mauritius, Madagascar and Comoros). The seminar was facilitated by three (3) resource persons, Mr. Senei Molapo, a MEFMI Graduate Fellow and Programme Manager in the Macroeconomic Management Programme, Ms. Elka Atanasova, an Advisor in Real Sector Statistics AFS, and Mr. Graversen Timmi Rolle, an Adviser in Real Sector Statistics AFE.

Prepared by Senei Molapo