Central bank introduces new statistics regime

Deals

The Central Bank of Hungary (MNB) has started calculating balance of payment statistics on the basis of direct reports from economic players from the start of 2008, rather than on data compiled by the Central Statistical Office (KSH).

Under the old system, balance of payment statistics were based mainly on transaction codes for transfers reported by banks. Under the new regime, the MNB obtains the necessary information directly from reporting agents. With the launch of the new data collection system, indirect data provision based on cash accounting has been abolished, the MNB said.

The compilation of financial and capital account data is based on monthly reports by about 700 large companies and other economic players, as well as on quarterly or annual reports by another 2,800 SMEs.

The new regime gives the MNB more data to work with and meets EU norms. Hungary is one of eleven EU countries that collect data with questionnaires. Other member states will also develop their own direct data reporting systems in the near future, the MNB said. (MTI – Econews)

ADVERTISEMENT

Business confidence falls slightly in June Analysis

Business confidence falls slightly in June

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.