Belgium subscribed to the International Monetary Fund's (IMF) Special Data Dissemination Standard (SDDS) on June 6, 1996, and met SDDS requirements on January 26, 2001. Based on information provided on the SDDS website, Belgium meets SDDS requirements for periodicity, coverage, and timeliness of data. However, the IMF reported in 2007 that, during that year, Belgium experienced occasional short delays in the timeliness of data for production index and analytical accounts of the banking sector. The report also indicated that Belgium met the SDDS' advance release calendar requirements in 2007. With regard to the quality of data, the IMF report concluded that Belgium, in 2007, provided information on the methodology, sources, and reconciliation of certain data categories. However, a closer examination of Belgium's data on the SDDS website discloses that there are several data points in which information regarding the quality dimension of the SDDS is lacking. Moreover, in its 2007 report, the IMF acknowledges that Belgium has yet to receive a Mission to produce a data module for the Reports on Observance of Standards and Codes in which the IMF might assess in detail the quality of Belgium's statistical system.

General Overview

Belgium subscribed to the International Monetary Fund's (IMF) Special Data Dissemination Standard (SDDS) on June 6, 1996 and met SDDS requirements on January 26, 2001. The IMF's 2008 Article IV Consultation report notes that Belgium's "economic and financial statistics are adequate for surveillance purposes" (p. 34). Further, as noted in the IMF's 2007 report titled "Belgium: Annual Observance Report of the Special Data Dissemination Standard for 2007." The report indicates that Belgium meets SDDS requirements on periodicity and coverage of data. However, in the case of timeliness of data, the country experienced occasional short delays for certain data categories. Belgium provided advance release calendars (ARC) for all data categories in 2007 and met the SDDS requirements for metadata certification for all quarters.

Various government bodies are responsible for the compilation and dissemination of official statistics, including Statistics Belgium, the National Bank of Belgium (NBB), and the Central Economic Council. The collection and dissemination of statistical information are governed by the Statistical Law of 1962 and Article 33 of the Organic Charter of the National Bank of Belgium. The IMF's 2006 Article IV Consultation states that the NBB "regularly publishes a full range of economic and financial data and provides calendar dates of main statistical releases. On-line access to these comprehensive databases is facilitated by the NBB's data search engine, Belgostat" (p. 37). With regard to data quality, the 2007 IMF reports that, during that year, Belgium made available "information on the methodology, sources, and reconciliation of data categories in Data Quality Assessment Framework that would facilitate users to assess the quality of the data" (p. 7). However, the report also notes that Belgium has yet to receive a Mission to produce a Data Module of the Reports on Observance of Standards and Codes by which the IMF assesses in detail the quality of the statistical systems of its member countries.

The Principles

Comprehensive economic and financial data, disseminated on a timely basis.

CP

The IMF's SDDS website discloses that Belgium meets or exceeds all SDDS requirements for coverage, periodicity, and timeliness. Further, the IMF's 2008 report confirms that Belgium met, during the course of 2007, SDDS periodicity and coverage requirements for all data categories. The country, however, experienced occasional short delays in the timeliness of data for the production index and analytical accounts of the banking sector.

Ready and equal access to official statistics.

FC

For applicable data, there is advance dissemination of release calendars as shown on the IMF's SDDS website. Data are released simultaneously to all interested parties although as stated on the IMF's SDDS website, data on consumer prices are released to 15 media outlets with an hour's embargo in effect. The IMF's 2008 report also noted that "during 2007, Belgium met the SDDS requirements for ARC in all months" (p. 6).

Official statistics must have the confidence of their users. Transparency of its practices and procedures is a key factor.

CP

As stated in the 2007 IMF report "during 2007, Belgium met the SDDS requirements for [metadata] certification for all quarters" (p. 6). Information provided on the IMF's SDDS website indicates that there is clear dissemination of the terms and conditions under which data are produced, including information on the confidentiality of individually identifiable information. Where applicable, there is clear identification of government access to data prior to release, and clear identification of ministerial commentary on the occasion of statistical releases. For all relevant data categories except the international investment position, there is information provided regarding revisions to data. However, with respect to the SDDS requirement of providing advance notice for changes in methodology, most data categories for Belgium provide such information only at the time of the change.

A set of standards that deals with the coverage, periodicity and timeliness of data must also address the quality of statistics.

CP

In respect to the quality dimension of the SDDS, the 2007 IMF report states "during 2007, Belgium provided available information on the methodology, sources, and reconciliation of data categories in Data Quality Assessment Framework that would facilitate users to assess the quality of the data" (p. 7). All data provided by Belgium on the SDDS website provides clear dissemination of documentation on methodology and sources used in preparing statistics, except for data on general government or public sector operations and central government operations. All data categories provide clear dissemination of component detail and reconciliation with related data, with the exception of producer prices and international reserves and foreign currency liquidity. However, several data categories do not meet the second component of this requirement, namely, that the data provided support statistical cross-checks and provide assurances of reasonableness. For instance, data on labor market employment, international investment position, and population do not provide this information.