Finance minister asks for investigation over NSO error
Edward Scicluna asks for investigation over National Statistics Office error in GDP calculation.
Adds PN statement
The Nationalist Party expressed concern over the "attacks" carried by Finance Minister Edward Scicluna against the National Statistics Office during a meeting of the MCESD.
"Minister Scicluna expects NSO to publish data which favours him rather than giving a clear picture on the economic and financial realities of our country," Nationalist MP Tonio Fenech said.
According to Fenech, Scicluna "didn't want" the NSO to reveal that unemployment was increasing every month while the cost of living went up as well.
The Opposition accused government of repeatedly hitting out at the NSO.
"Scicluna has already cast doubts on NSO's credibility when he criticised the way by which Gross Domestic Products statistics were gathered," Fenech said.
The former finance minister said that such attacks mar NSO's credibility and are "dangerous" as they diminish the country's reputation before the institutions.
The finance minister Edward Scicluna has today said that he will ask the chairman of the Malta Statistics Authority (MSA) - the independent regulator for official national statistics - to investigate what led to the National Statistics Office to miscalculate the country's GDP.
The requests follows Scicluna's outburst during yesterday's MCESD meeting in which he accused the NSO of issuing misleading information on economic data.
The ministry noted a statement issued by the National Statistics Office (NSO) which said that the post production validation and checking process identified a compilation error in the component "Taxes on Production and Imports" originally published on 6 September 2013.
The finance ministry added that according to the statement, this had a significant effect on the Gross Domestic Product figure for 2013 Quarter 2, which in September 2013 was mistakenly listed as 1.7%, but was in fact recalculated to 3.6%.
It added that minister asked the MSA chairman Albert Leone Ganado to investigate "what may have led to the error, together with any other related issues. The Minister will be requesting a detailed report including recommendation for the further strengthening of the institution." Leone Ganado was appointed at the helm of the authority in July by Scicluna.
"The ministry has also received assurances that the error occurred within the statistical agency and was not contained in any upstream tax data provided by the Finance Ministry," the statement said.
The ministry also pointed out that the draft Budget for 2014 is based on an economic forecast for 2014, which in turn is estimated over a long-term time-series, and is therefore not expected to be affected by one particular quarter.
"In line with the European Statistics Code of Practice, which requires that errors discovered in published statistics are corrected at the earliest possible date and publicised, NSO recalculated provisional GDP estimates for the second quarter as published last month."
The ministry was informed that Eurostat had been notified accordingly.