Overview of financial statistics publications
by
Bheki Mpanza
Statistics South Africa
Coauthors: Patrick Naidoo

The chief directorate, financial statistics, covers three main areas: private sector, national and provincial government and local government institutions. In this paper, we provide an overview of the publications from each of the three areas, the problems faced in the compilation of data, the ways in which these will be addressed as well as an overview of the challenges that lie ahead.

Two surveys are undertaken in the private sector statistics section, namely the annual economic activity survey (EAS), which was started in 1998 after consultations with the Australian Bureau of Statistics (ABS). The purpose of the annual survey is to derive a set of economic measures based on information available from the financial accounts of businesses. The second survey is the Quarterly Financial Statistics survey, which covers all industries in the formal non-agricultural business sector, excluding government. The purpose of the Quarterly Financial Statistics survey is to collect quarterly financial information from businesses, which is used in the compilation of the Gross Domestic Product (GDP) for the monitoring and development of government policy. In 2000, Stats SA replaced its old Business Address Register with a new business register, which was acquired from the South African Revenue Service (SARS). In 2001, samples were drawn from the new business register. In order to improve the quality of the two surveys, larger samples would have to be drawn in future.

The economic and functional classification of annual general government (national departments, provincial governments, extra-budgetary accounts and funds, universities and technikons as well as the rates and general component of local government institutions) expenditure is critical for the local and international purposes. In the national and provincial government section, these classifications are published individually as well as in a consolidated statistical release of general government. Current challenges include the transition to a Standard Chart of Accounts, implementation of the new government financial statistics and the consolidation of a database of government expenditure. Future challenges include the publications of quarterly data both for income and expenditure.

Quarterly and annual financial information on local government also allows for a better understanding of the state of local government issues, both by local and international institutions. The new local government structures and demarcation have resulted in a significant shift in the municipality’s objectives. The municipalities are no longer just an important site for delivery of services, but they are crucial to the economic and social development of people. With the further implementation and challenges of the generally accepted municipal accounting principles, a census (covering both financial and non-financial statistics) based on the new structures will be critical.

Date received: April 21, 2002