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National Bank and SSO: Quality statistics are key for good decisions making and conducting sound economic policies


The National Bank and the State Statistical Office jointly celebrated the European Statistics Day

Quality statistics are key to the process of good decisions making and conducting sound economic policies. Therefore, following the global statistical trends and international initiatives, we have significantly upgraded our national statistics with new data. Compiling and disseminating quality statistics in accordance with the latest European and international standards is and will always be our strategic commitment. These are some of the messages conveyed from the event with which the National Bank and the State Statistical Office (SSO) have jointly celebrated the European Statistics Day today, under the motto “Better data. Better life”.
The event was opened by the Governor of the National Bank, Anita Angelovska Bezhoska, who gave a welcome speech. Moreover, she addressed the challenges for central-banking statistics, especially the changes that the global economic and financial crisis has imposed through the requirements for increased coverage, granularity, systematization and dissemination of statistical data.
“The main challenges for a large number of central banks relate to the technology that processes enriched data volume, data governance and standardization for statistical purposes, maintaining data confidentiality principle amid increased number of individual data, as well as the balance between the growing need for data and the reporting burden. All of this requires enhanced cooperation and coordination among all stakeholders, including among the authorized bodies for statistical surveys.” - said Angelovska Bezhoska who then shed light on multiple National Bank projects, which aim to respond to the new international statistical challenges and to contribute to a further improvement of the decision-making infrastructure.
The Director General of the SSO, Apostol Simovski, indicated that within the national statistical system whose coordinator is the SSO, each participant has their own role and responsibility in compiling statistics from their work area. As he said, the coordination and harmonization of all segments in this system is a main prerequisite for fulfilling the goals and obligations of these institutions.
"The National Bank, as a producer of monetary and external statistics, as well as financial accounts statistics, is one of the most important links in the official statistics production chain and is a role model that, observing the standards and rules of the European statistical system, successfully represents the Republic of North Macedonia in the European central-banking family. Its role for maintaining a stable, competitive and market-oriented financial system makes it the main pillar that supports the general economic policy without jeopardizing the achievement of the main objective and in accordance with the principle of open market economy with free competition.” - said Simovski.

The Head of the EU Delegation, Ambassador Samuel Zbogar, also gave an address, stating that ”an impartial statistical system is essential for any society. It produces reliable data that helps the authorities to better use public funds and improve policies. It eventually helps making the public sector serve the citizens. Not to mention all the advantages for the private sector. In brief, a statistical system that is managed professionally and is free from political influence can make the country a better place. The EU has been helping the reforms in the area of statistics for years. One of the results is the recently launched population register. This register will bring many benefits for the citizens and companies, and will support the carrying out of the census.”
At the celebration of the European Statistics Day, Per Nymand-Andersen, Adviser to senior management at the European Central Bank was the keynote lecturer. He gave a lecture on the role of the European central-banking community for providing European statistics, focused on the role of the ECB in the provision of European statistics, the growing importance of micro data in the compilation of statistics and decision-making, as well as the challenges it poses when performing the statistical function.
The discussions once again highlighted the great responsibility of all authorized bodies of the statistical system - they create a public good beneficial for every individual, as well as the institutions and policy makers, thus contributing to a sound and prosperous society.
The National Bank and the SSO are firmly determined to continue to promote their mutual cooperation aimed to improve the national statistical system.

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