Exchange with SECO on the expansion of the national accounts

Efforts to expand Liechtenstein’s macroeconomic statistics have been underway for some time, most recently reinforced by the country’s accession to the IMF. This work is to be coordinated by the CGMS, which consists of members of the Ministry of Presidential Affairs and Finance, the Office of Statistics, the Financial Market Authority, and the Liechtenstein Institute. The CGMS initiates and coordinates the IMF’s recommendations on statistical expansion, which address gaps that have long been identified and discussed in the government’s statistics commission. As part of the further development of Liechtenstein’s official macroeconomic statistics, the main focus is on expanding the national accounts and making GDP and selected components available earlier and more frequently. The CGMS is currently examining the feasibility and different methodological approaches. In this context, a one-day CGMS workshop was held in Vaduz, which was also attended by Philipp Wegmüller, Deputy Head of the Economic Affairs Division of the Swiss State Secretariat for Economic Affairs (SECO). He presented the production process for relevant NAA statistics at SECO and discussed potential expansion options for economic statistics in Liechtenstein with the CGMS members. Andreas Brunhart presented the Liechtenstein Institute’s quarterly GDP estimation model and gave an overview of the economic indicators available in Liechtenstein.

Photo (from left to right): Lukas Lenz (Office of Statistics), Martin Gächter (FMA), Sophia Döme (FMA), Simon Gstöhl (Office of Statistics), Daniela Sele (Ministry of General Government Affairs and Finance), Philipp Wegmüller (SECO), Elias Hasler (FMA), Martin Geiger (Liechtenstein Institute), Andreas Brunhart (Liechtenstein Institute).