Ashgabat, 25 June 2019: The United Nations Development Programme (UNDP) and the State Statistics Committee of Turkmenistan continue cooperation on improving the national accounts statistics for exhaustive GDP estimation. Invited expert on insurance services Aleksandr Surinov held preliminary consultations with the relevant national agencies of Turkmenistan.
During his visit, Mr. Surinov held a series of meetings with representatives of the Statistics Committee and provided expertise on calculating the output of insurance services for exhaustive estimation of GDP, including development of methodology in accordance with the 2008 SNA requirements as well as indicators, statistical forms and other relevant materials.
As part of this visit, Mr. Surinov also held a roundtable on exhaustive estimation of Growth Domestic Product (GDP), that accounts insurance services in accordance with SNA 2008. The aim of the round table is to familiarize the representatives of Statistics Committee, Ministry of Finance and Economy, Central Bank and State Insurance Organization of Turkmenistan with the recommendations on measurement of insurance services and their applications for exhaustive estimation of GDP.
“Under the 2008 SNA, there are three approaches for estimating insurance output. The choice of approaches depends on the availability and reliability of the information base for estimating insurance operations.,” stated Mr. Surinov, UNDP international expert.
Mr. Surinov familiarized participants with the possible approaches (methods) for calculating the output of insurance services such as the cost method, the expectations approach and accounting method. During the roundtable, participants discussed approaches to measure all indicators related to insurance and their entries in the system of national accounts for all three types of insurance. Further discussions were devoted to the feasibility of using accounting method based on data changes in reserves. As a result of the roundtable, representatives of relevant ministries and agencies strengthened their understanding on calculating the output of insurance services and its role in exhaustive estimates of GDP.
The visit of expert is organized with support of the “Experts on Demand” program funded by the government of the Russian Federation.