INSTAT: economic news on a control panel

The economic control panel appears as a new tool for everyone, including the INSTAT (the national statistical institute).  The main short term indexes are being centralized in order to grant precise economic estates to political and economic actors. This concentrated information is dimmed to be published once every three months before being published once a month, when the system is expected to be well greased. The INSTAT is planning to lead meetings with data providers and to conceive derivates.

The economic control panel (ECP) production is based on data providers.. Each of the country’s 22 regions has one statistical office from now on. Private and public institutions are contributing to the data collection process developed by the INSTAT. “ The exploitation of some statistical data, as those produced by the administration, is not requiring much funds, it’s a matter of a low cost control panel” explained the INSTAT’s top official.

The first ECP production attempt clearly showed that the process was still experimental. Suggestions and comments produced by users are being collected by the INSTAT. The production of economic information during the three latest months has been completed throughout the country. Its summary was plucked up in a 18 pages long file adorned with 14 charts and 30 graphs hardly ever understandable for amateurs in economics. Easing such summaries will be more than necessary in order to enable their access to those supposed to work with them, namely ministries, social and economic actors.

The HAT economy and industry minister, Richard Fienena, presented the economic control panel as a summary of all of the national economic data.: “ such a tool is going to chart all of the economy’s figures jointly agreed by every officials”. The first concern is logically the agreement on the information to be presented as a national believable economic model. Richard Fienana emphasized that all of the economy’s sectors would be represented.

The economic control panel presents global indexes and indexes per sector, inflation ratings and oil prices. Public finances, foreign trade and currency issues are equally going to be represented. Users will be entitled to instantly follow the national economic situation and draw expectations over the next three months to the next year.