MEFMI Provides Technical Assistance on Quarterly GDP to ZIMSTAT

Critical capacity gaps in the area of real sector statistics in the MEFMI region arise partly from the absence of flash estimates and comprehensive national accounts statistics. Flash estimates provide the earliest picture of the economy according to national accounts concepts, while comprehensive and consistent national accounts statistics allow economists and other analysts to undertake detailed assessments of the performance of an economy. The implementation of the 2008 System of National Accounts (2008 SNA) calls for the compilation of quarterly national accounts (QNA) in order to build a coherent system of national accounts. The current economic and political context in the region has also brought about an increase in the demand for accurate indicators that provide timely and complete information about the evolution of the economy on a short-term basis.

Currently, the Zimbabwe National Statistics Agency (ZIMSTAT) is preparing to undertake benchmark surveys to obtain updated and more comprehensive data for gross domestic product (GDP) rebasing and to develop quarterly GDP estimates for 2023. These two undertakings require staff who have adequate skills as outlined in the 2008 SNA and the QNA manual. To address this capacity need, MEFMI assisted ZIMSTAT with training on compilation of quarterly GDP and facilitated the setting up of the National Account Data Base System (NADABAS) for the compilation of quarterly and annual GDP, as well as Supply and Use Tables (SUT). The technical assistance was provided though a workshop held from 6 to 17 June 2022.

The objective of the workshop was to deepen compilers’ understanding of the concepts, definitions, data sources and methods for compiling quarterly GDP using the activity, expenditure and income approaches in line with international best practices and techniques. The opening of the workshop was presided over by Dr. Sehliselo Mpofu, Director, Macroeconomic Management Programme at MEFMI and Ms. Tafadzwa Bandama, Director, National Accounts Department at ZIMSTAT. In her remarks, Dr. Mpofu commended ZIMSTAT for seeing MEFMI as a suitable institution to assist ZIMSTAT to achieve its mandate on quarterly GDP compilation and dissemination. Ms. Bandama expressed her gratitude to MEFMI and made a commitment that participants would utilise the techniques learnt during the workshop.

During the workshop, MEFMI trained twenty (20) participants from the national accounts departments of ZIMSTAT. Of the 20 participants, eleven (11) of them (55 percent) were male while nine (9), that is 45 percent were female. The workshop was facilitated by two (2) resource persons, Mr. Senei Molapo, a MEFMI Graduate Fellow and MEFMI Programme Manager, as well as Ms Pamela Audi, independent Consultant and a national accounts specialist who is also a former IMF staff. It is MEFMI’s expectation that the knowledge acquired from this workshop will be used to enhance the availability of timely and comprehensive quarterly national statistics in Zimbabwe, thus contributing to sound macroeconomic policies and efficient functioning of financial markets.

Prepared by Senei Molapo