A PICTURE OF MONTENEGRIN ECONOMY PROVIDED BY THE NATIONAL ACCOUNTS

The system of national accounts aims at measuring social well-being, at least in the part related to economic transactions between households, businesses, general government and the rest of the world. National accounts estimates have an outstanding advantage over all other available standard statistical indicators, since they are the only ones that provide a consistent and coherent set of data, able to make a synthesis from heoretically available information regarding economic transactions and the financial situations of economic agents. In doing so, national accounts also provide guidelines to reshape and improve the system of statistical surveys. Hopefully, they will also make available a common consensus framework for public debate on economic policy.

Estimation of imputed rent in Montenegro (2003 - 2005)

Annual Gross domestic product (GDP) as the market value of all finished goods and services produced in a country is the most popular indicator to measure the size of its economy.

In its process of approximating and complying with European Union standards and methodology for statistical production, MONSTAT took the decision to integrate in its

GDP compilations, to the greatest possible extent, the European System of Accounts methodology known as ESA95 methodology.

An important component of this methodology refers to estimation of what is known as imputed rent of owner-occupied dwellings.

Following Eurostat guidelines and using the data available in Montenegro, MONSTAT has produced for the first time estimates of the imputed rent for the years 2003, 2004 and 2005.