22.06.2016 Changes in the general government sector definition will entail following revision of national accounts

22 June 2016

The CZSO, within the government deficit and debt notifications in September 2015 changed classification of selected units to sectors while transferring them from the public corporations sector to the general government sector. It applied to budgetary organizations, public hospitals, public media, and six so-called public captive institutions. In relation to this new sector definition, a national accounts revision is entailed. On 30 June 2016, a revision for 2011-2015 will be released; a new time series for the period of 1993–2010 will be published on 30 June 2017.

Besides regular refinement of data for the year 2014 and the first version of annual accounts for the year 2015, also a revision of classification of selected units to sectors in compliance with the government deficit and debt notifications will be published on Thursday 30 June 2016. It will apply to indicators in current prices, especially indicators by institutional sector. By transfer of units to non-market producers also the way of calculation of production is changed as for these units. The changes in classifications of the units to sectors will have only minor impact on the GDP growth rates.

In relation to publication of annual national accounts, quarterly national accounts for the period from the first quarter of 2011 to the first quarter of 2016 will be newly released on 1 July 2016.

Contact:
Vladimír Kermiet
Director of the CZSO National Accounts Department
Phone No: +420 274 054 247
e-mail: vladimir.kermiet@czso.cz