Regime Decided To Classify Economic Statistics

• 9.06.2022, 13:37

Uncertainty, limiting of information always leads to higher risk assessments and is included in prices.

Economic and corporate statistics are no longer available in the public domain.

Previously, Belstat did not publish information on the volume and value of shipments of tobacco, chemical radioactive elements, precious metals, aircraft and their parts, weapons and ammunition. Since 2021, oil and oil products, mineral fertilizers, tractors, trucks were added to the "closed" categories. No statistics are published on migration, underemployment, idle time, forced leaves, number of pensioners either.

The press service of the National Statistical Committee explains it by saying that the statistics body of any state determines for itself which data to publish and which not.

In turn, the Customs Committee has suspended the electronic service "Provision of Customs Foreign Trade Statistics," the Ministry of Finance doses information about the state debt, the Social Security Fund no longer publishes the amount of outstanding insurance premiums for specific companies.

One could use "mirror statistics" - in the case of Russia and Belarus its traditionally quite close. However, after the start of the conflict in Ukraine, Russia also stopped publishing full trade statistics, data on public debt, oil production and other economic and statistical information.

The drop in the availability of statistical information makes it difficult to understand the situation in the economy as a whole, as well as at the level of specific industries and companies, and also makes it difficult to work with, for example, economic forecasts, ilex writes.

Closure of some economic and corporate statistics hampers the conduct of business. Uncertainty, limiting information always leads to higher risk assessments and is included in prices. People don't understand whether there will be a collapse in the financial market or not, but they still bookmark a devaluation.