The United Nations development program (UNDP) jointly with the state statistics Committee of Turkmenistan held an online round table within the framework of the joint project "Strengthening institutional and statistical capacity for national accounts" on the formation of the balance of assets and liabilities in accordance with the system of national accounts 2008. (2008 SNA). This is reported in the press release of the UNDP.
The event was attended by about 20 leading specialists of the State Statistics Committee, the Ministry of economy and Finance, and the Central Bank of Turkmenistan.
The purpose of the round table is to present international experience in forming the balance of assets and liabilities in accordance with the 2008 SNA and recommendations for its formation in Turkmenistan. The balance of assets and liabilities integrated with flow accounts provides analysts with a broader view of the necessary information and data when monitoring and evaluating economic and financial conditions.
UNDP international expert Mikhail Gordonov from Russia presented a report on the main changes and modifications in the assessment of assets and liabilities between the 1993 SNA and the 2008 SNA, international best practices in creating a balance of assets and liabilities in accordance with the 2008 SNA, and gave recommendations for their calculation. The services of a Russian expert with more than 40 years of experience in statistics were provided by the “Russian Experts on Demand” program with financial support from the Russian Federation.
Rovshen Nurmuhamedov, head of the UNDP program Department:
"Asset and liability balances allow economists to assess the financial position of the sector and allow the Central Bank to conduct risk analysis. In turn, this allows us to calculate widely used coefficients based on data at the level of various items in the balance sheet of assets and liabilities. Thus, the balance of assets and liabilities is a very important report that allows economists to more accurately assess the financial situation."