Implementation of the bilateral measure in cooperation with the HNB in financial account statistics has begun

16/12/2022

Within the second phase of the regional IPA project “Programme for Strengthening the Central Bank Capacities in the Western Balkans with a view to the Integration to the European System of Central Banks”, the Central Bank of Montenegro (CBCG) has continued its cooperation with the experts of the Croatian National Bank (HNB). The first HNB expert mission was held from 12 - 16 December 2022, during which activities on the development of financial account statistics of the non-financial sector continued. Based on the already established model of the financial sector’s financial account, a model of the financial account of the non-financial sector will be created and will contain the same dimensions needed for the development of financial account statistics of all industries. Moreover, the planned activities include the development of financial account statistics of the non-resident sector based on primary data sources from the balance of payments statistics and international investment positions. Additionally, the experts will work on defining the list of data sources of all sectors in the economy that are necessary for the compilation of financial account statistics following the ESA 2010 methodology. By implementing the planned activities, the CBCG sets up a model of the financial accounts of specific sectors, with a further plan to develop the entire economy’s financial account.