This publication offers a complete macroeconomic data set, in which all the links between the real sector, government finance statistics, balance of payments and monetary statistics are established.
This creates the necessary prerequisites for the creation of quality macroeconomic projections and macroeconomic policy.
The sector accounts presented in this publication correspond to the European System of Accounts (ESA) 2010 methodology.
This publication contains data on all components of gross domestic product and each account according to ESA 2010.
The content of the publication is presented in two parts. The first part shows the basic concepts, the names of the accounts, institutional sectors and transactions, which are in accordance with the ESA 2010 methodology. For easier orientation in the published tables and a better understanding of their content, this part of the publication provides brief descriptions of the system of accounts, institutional sectors and indicators, integrated sector tables, including a brief explanation of the basic data sources used for compilation.
The second part of the publication contains three tables of macroeconomic indicators for the three years from 2018 to 2020, and three integrated tables of sector accounts for each year. Sector accounts are the core of the system of national accounts, and their aim is to capture all material, income and financial flows between individual institutional sectors and relations to abroad, and the resulting stock of assets and liabilities. These flows and stocks are organised into a system of accounts to provide the best possible opportunities for analyses of the current state of the economy.
From an economic point of view, the integrated economic accounts provide an overview of the overall economic activity of the country. They represent a convenient way of presenting a large amount of detailed information that is systematised according to internationally accepted economic principles and conventions for the functioning of an economy.
The main advantage of the whole system of sector accounts is that they provide data in a completely coherent form and, moreover, these data are internationally comparable. These two advantages of the system are based on detailed definitions and descriptions of indicators elaborated in the past decades, and mainly from the general principle of double-entry accounting.
Achieving complete theoretical coherence of the entire system of sector accounts is very difficult in practice, especially due to the use of several dozen diverse data sources. An example of broken consistency is the balancing item "net lending/borrowing". It is the resulting balancing item of non-financial accounts and at the same time the resulting balancing item of the financial account in each institutional sector and for the total national economy.
This publication was prepared as part of IPA 2019, project SP 1.6 Sector accounts on an experimental basis. Some balancing indicators are different from those already published due to the implementation of some new methods that will be applied in the national accounts under the next benchmark revision.