Workshop to Draw Up Manual for Equatorial Guinea National Accounts begins

The event was an opportunity for INEGE experts and professionals to take a further step in the production of official statistics in Equatorial Guinea, above all in the consolidation and institutionalisation of the creation of national accounts, in order to guarantee their sustainability.

The workshop, which is taking place at the Equatorial Guinea National Statistics Institute (INEGE), in Malabo II, from 20th to 31st August this year, is being run by experts in national accounts from the National Institute for Statistics and Information (INIE) in Peru, within the framework of the convention of technical cooperation signed between the two institutions, on 30th December 2015.

The main aim of these seminars is to draw up a Manual for National Accounts for Equatorial Guinea, which will contain methodological aspects, processes and stages in the elaboration of the national accounts.

The first to speak was Alain E. Gaugris, a statistician from the World Bank, who pointed out that “the creation of this manual, which also enjoys technical assistance from the World Bank, will allow the INEGE one and for all to set up the institutional memory necessary for the sustainable production of national accounts in the Republic of Equatorial Guinea”.

The World Bank expert also said that this work will take place through technical cooperation with the INEI.

The INEGE Director General, Ricardo Nsue Ndemesogo, first pointed out the importance of the constitution of the department he leads, The Republic of Equatorial Guinea did not produce its own macroeconomic data for many years. This void obliged organisations to make their own estimations, in accordance with the idea they had and the data they found on social media; this had nothing to do with the real situation in the country, causing damage and false interpretation of the socio-economic reality in the Equatoguinean nation”.

Nsue Ndemesogo also pointed out that the Government of the Republic of Equatorial Guinea, conscious of its responsibility to produce its official statistics and put an end to this situation, decided to standardise the National Statistical System (SEN), resulting on 17th May in Law No. 3/2001, regulating Statistical Activity in Equatorial Guinea.

Finally, the INEGE Director General said that “the national accounts are instruments that demonstrates the economic system in the country, through its Gross Domestic Product (GDP), which serves as a thermometer to measure the economic activities within a nation”.

Source: Equatorial Guinea Press and Information Office

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