December 2017 – The further development of sectoral financial balance sheets for South Africa’s integrated economic accounts
The South African Reserve Bank (SARB) has been advancing the development of sectoral balance sheet statistics for the South African economy within the context of the integrated economic accounts (IEA) framework. These statistics will extend the range of macroeconomic aggregates available for national policy formulation and contribute towards the fulfillment of South Africa’s international statistical commitments. The methodological approach used is aligned with the Group of Twenty (G20)3 Data Gaps Initiative (DGI), in particular recommendation 8 of the second phase of the DGI (DGI-2), which specifically focuses on sectoral balance sheets, flows, and a from-whom-to-whom analysis of stocks and transactions. The goal is to compile a complete and integrated set of sectoral balance sheets and accumulation accounts for South Africa covering the main institutional sectors and financial instrument categories4 as proposed in the System of National Accounts, 2008 (SNA 2008). This note focuses on the progress made with the sectoral financial balance sheet component of the IEA as indicated by the red dotted lines in Figure 1.