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Spain

Special Data Dissemination Standard

Summary
Spain has been a subscriber to the Special Data Dissemination Standard (SDDS) since September 1996, and met the standard's specifications in December 2000. The International Monetary Fund's (IMF) 2007 Article IV notes that Spain's economic data is "adequate for surveillance." The IMF, in 2007, released an Observance Report on Spain's data standards, in which it notes that the country meets the SDDS' specifications for coverage, periodicity, and timeliness for all data categories except for Central Government Operations where Spain avails itself of the flexibility option for timeliness. Per the same 2007 Observance Report, Spain meets the requirements for the dissemination of advance release calendars for all months. With regards to its integrity dimension, the SDDS website indicates that Spain meets the bulk of the requirements with some exceptions. Several data categories, including Central Government Debt, Exchange Rates, and External debt do not have information on significant modifications made to the methodology and for other data categories that provide the information the changes are offered at the time of release and not in advance as required by the SDDS. The requirements for the Quality dimension are largely met except for Central Government Operations and Population where no information is provided on the SDDS website regarding the dissemination of component detail and statistical frameworks.

    General Overview

    Spain has been a subscriber to the International Monetary Fund's (IMF) Special Data Dissemination Standard (SDDS) since September 1996, and met the SDDS specifications in December 2000. The IMF in its 2007 Article IV report assessed Spain's economic data as "adequate for surveillance" (p. 24) purposes. In its 2007 Observance Report of the SDDS by Spain, the IMF notes that the country met or exceeded the SDDS' specifications for coverage, periodicity, and timeliness for all data categories except for Central Government Operations where Spain avails itself of the flexibility option for timeliness.
    The National Statistics Act of 1945 established the National Statistics Institute (INE) with the objective to improve the national statistics, introduce new ones and coordinate with the provincial and municipal statistical services (INE website). Furthermore, the INE oversees the technical competencies of state statistical services. Per the IMF's 2005 report, the statistical body also delegates some of its responsibilities to various other public institutions for collection and dissemination of certain data. For instance, pursuant to the General Budget Law, the General Controller and Accounting Directorate (IGAE) is required to compile general government revenue and expenditure, while the Bank of Spain is responsible for the collection of financial data. This in return has reduced the role of the INE in the compilation and dissemination of fiscal statistics. The collection and dissemination of statistical data in Spain are governed by Law No. 4 of 1990, Law on the Autonomy of the Bank of Spain No 13 of 1994, and the General Budget Law.


    The Principles

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

    Information provided by the Spanish authorities on the IMF's SDDS website indicates that Spain fulfils SDDS requirements for timeliness, coverage, and periodicity of data. Spain, however, avails itself of the permissible flexibility option on the timeliness of central government operations data. Under this flexibility option, Spain will disseminate December data for Central Government Operations within two months as opposed to the stipulated one month. Similarly, in its 2007 Observance Report of the SDDS by Spain, the IMF notes that the country met or exceeded the SDDS' specifications for coverage, periodicity, and timeliness for all data categories except for above mentioned Central Government Operations.

    Ready and equal access to official statistics.

    The SDDS website mentions that Spain provides advance release calendars (ARCs) for all data categories, and data are released simultaneously to all interested parties. The IMF's 2007 Observance Report of Spain's SDDS indicates that the country meets the requirements for the dissemination of ARCs for all months. However, ARCs for various data categories including Central Government Operations, Balance of Payments, and Analytical Accounts of the Central Bank were released but with short delays.

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

    The IMF's SDDS website indicates that Spain meets the bulk of the requirements for the Integrity dimension with some exceptions. Several data categories, including Central Government Debt, Exchange Rates, and External Debt do not have information on significant modifications made to the methodology and for other data categories that provide the information the changes are provided at the time of release and not in advance as required by the SDDS. Per the IMF's SDDS website, the dissemination of the terms and conditions under which official statistics are produced, including those relating to the confidentiality of individually identifiable information are met for most data categories. However, information on confidentiality is not provided for the following data categories: general government or public sector operations, central government operations, central government debt, interest rates, share price index, international reserves and foreign currency liquidity, and exchange rates. Further, the SDDS website indicates that there is always adequate identification of internal government access to data prior to release, or ministerial commentary at the time of the release.

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

    Per the IMF's SDDS website, the requirements for the quality dimension are largely met except for data on Central Government Operations and Population where the Spanish authorities provide no information on the SDDS website regarding the dissemination of component detail and statistical frameworks that support cross-checks. Spain provides summary methodologies for all data categories on the SDDS website. The IMF's Observance Report indicates that during 2007, Spain submitted information on the methodology, sources, and reconciliation of data categories in Data Quality Assessment Framework that would help users assess the quality of the data.

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    Sources of Assessment

    International Monetary Fund, "Spain: Annual Observance Report of the Special Data Dissemination Standard for 2007," 2007. Available from International Monetary Fund website. Accessed on August 14, 2008. (IMF 2007a)

    International Monetary Fund's Special Data Dissemination Standard website. Accessed on August 14, 2008. (IMF SDDS website)

    Relevant Organizations

    Bank of Spain - Banco de España (BdE)

    General Controller and Accounting Directorate - Intervencion General de la Administracion del Estado (IGAE)

    Institute for Fiscal Studies- Instituto de Estudios Fiscales (IEF)

    Ministry of Economy and Finance - Ministerio de Economia y Hacienda (MEH)

    National Statistics Institute - Instituto Nacional de Estadistica (INE)



    Relevant Legislation/Regulation

    National Statistics Institute Act, 1945 - Ley que crea el Instituto Nacional de Estadística, 1945 (in Spanish only)

    Royal Decree enacting the Charter of the National Statistics Institute No. 508, 2001 (with amendments through 2005) - Decreto Real que aprueba el Estatuto del Instituto Nacional de Estadística No. 508, 2001 (actualizado al 2005)

    Law on Public Statistics No. 12, 1989 - Ley de la Función Estadística Pública No. 12, 1989

    General Budget Law No. 47, 2003 - Ley General Presupuestaria No. 47, 2003

    General Budget Law for fiscal year 2008 No. 51, 2007 - Ley de Presupuestos Generales del Estado para el año 2008 No. 51, 2007 (in Spanish only)

    General Budget Law for the fiscal year 1990 No. 4, 1990 - Ley de Presupuestos Generales del Estado para 1990, No. 4, 1990 (in Spanish only)

    Law on Fiscal, Administrative, and Social Measures No. 13, 1996 - Ley de Medidas Fiscales, Administrativas y del Orden Social No. 13,1996 (in Spanish only)

    Law on the Autonomy of the Bank of Spain No 13, 1994 - Ley de Autonomia del Banco de España No. 13, 1994



    Supplementary Sources

    International Monetary Fund, "Spain: Report on the Observance of Standards and Codes- Fiscal Transparency Module," Country Report No. 05/58, Washington, D.C.: IMF, February 2005. Available from International Monetary Fund website. Accessed on August 14, 2008. (IMF 2005)

    International Monetary Fund, "Spain: 2007 Article IV Consultation--Staff Report; Staff Statement; and Public," Country Report No. 07/175, Washington, D.C.: IMF, May 2007. Available from International Monetary Fund website. Accessed on August 14, 2008. (IMF 2007b)

    National Statistics Institute website. Accessed on August 14, 2008. (INE website)
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