Ashgabat, 15 June 2021: Within the framework of the joint project “Strengthening institutional and statistical capacity on national accounts”, implemented by the United Nations Development Programme and TurkmenStat, a round table was held on the compilation of the financial account in accordance with the System of National Accounts 2008 (SNA 2008) with Mr. Michael Andreas, UNDP international expert.

Representatives of the State Statistics Committee of Turkmenistan, Ministry of Finance and Economy of Turkmenistan, Pension Fund of the Ministry of Labor and Social Protection of the Population of Turkmenistan, Central Bank and other banks of Turkmenistan, the State Insurance Organization of Turkmenistan and other insurance companies took an active part in discussion of the compilation of financial account and balance of financial assets and obligations.

One of the recommendations of SNA 2008 is the preparation of a financial account, along with a balance sheet of assets and liabilities. Financial accounts allow tracing the connection between the credit and capital markets, formation and dynamics of debt indicators in various sectors of the economy.

"It should be noted that financial accounts and balances of financial assets and liabilities are important information basis for conducting flow-of-funds analysis and structural analysis within the framework of macroeconomic analysis", emphasized Mr. Rovshen Nurmuhamedov, UNDP Assistant Resident Representative in Turkmenistan.

During the round table, participants got acquainted with an overview of the current situation on the development of financial account and balance of financial assets and liabilities and recommendations for calculating GDP in Turkmenistan, taking into account the financial account in accordance with the System of National Accounts 2008.

It is expected that as a result of this and future activities within the project, a Roadmap for the preparation of a financial account in Turkmenistan will be developed.