Lebanon does not subscribe to the International Monetary Fund's (IMF) Special Data Dissemination Standard (SDDS). It does subscribe to the less rigorous General Data Dissemination System (GDDS), however, and has done so since January 2003, according to the GDDS website. A number of IMF sources have noted the existence of significant statistical weaknesses in a variety of areas, including national accounts and balance-of-payment data, price indices, labor statistics, demographics, etc. On the other hand, the IMF has found monetary and financial markets data, as well as central government budgetary accounts to be adequately covered. The deficiencies, taken together, are judged to have made effective economic monitoring more difficult. According to the IMF sources, the government is moving forward with a number of reforms in order to improve its data compilation and treatment, but significant technical assistance remains needed.

General Overview

The International Monetary Fund's (IMF) Special Data Dissemination Standard (SDDS) website discloses that Lebanon is not a subscriber to the SDDS. However, the IMF's less rigorous General Data Dissemination System (GDDS) website shows that Lebanon has been a subscriber to the GDDS since January 2003. At present, the most recent IMF Report on the Observance of Standards and Codes (ROSC) available for Lebanon is the 2005 "fiscal transparency module," which incorporates some coverage of the statistical regime in the country. This 2005 ROSC specifically notes limitations in the coverage of Government statistics and remarks that a lack of interagency coordination and other institutional barriers have impeded improvements. The report identified national accounts and balance-of-payment data, as well as labor and demographic statistics, price indices, non-budgetary fiscal accounts, and public enterprise data as all displaying significant coverage gaps. On the other hand, monetary and financial markets data, the central government's budgetary accounts, and public debt data were found to be "largely adequate" (p. 27). According to the ROSC, the government has initiated some steps to address its data compilation and dissemination issues, but the efforts are diffused across a variety of agencies and interagency coordination is inadequate. The ROSC added that the prime minister's appointment of a statistical coordinator, in addition to the formally constituted Central Administration of Statistics, has "blurred" the allocation of roles and responsibilities in the area of statistical authority. However, a 2004 IMF report did note that technical assistance had been sought by the Ministry of Economy from the French National Institute of Statistics and Economic Studies, and that together they were developing national accounts statistics. As a result of this work, national accounts base year (1997) estimates were published in 2003. The last time official national accounts data had been published was in the mid-1970s.

The agencies primarily responsible for data collection and dissemination in Lebanon are the Central Bank of Lebanon (CBL), the Ministry of Finance (MoF) and the Central Administration for Statistics (CAS) (IMF GDDS website). The 2004 IMF report mentioned that the IMF has collaborated with Lebanon to help develop price indices. The results of early work, which involved the generation of 1999 quarterly price indices using 1997 survey data, were published in 2000. A new survey, which should enable the development of appropriate weightings for consumer prices, was being undertaken by the CAS. The 2004 IMF report mentioned numerous deficiencies in the balance-of-payments data. These include "unrecorded exports, underestimation of private sector services and workers' remittances" (p. 38), as well as capital account statistics. The report noted that the CBL's adoption of a new International Transactions Reporting System should help to improve a better balance-of-payments statistical base.

The 2005 ROSC noted that Lebanese budget documents omit information dealing with investments that receive foreign financing, and excludes local government data and social security funds (among other extra-budgetary funding sources). Presentation of data does not comply with internationally recognized standards. Financing data, such as advances from the Treasury, are also omitted. No balance sheet is included with the budget document. The activities of the Council for Development and Reconstruction (CDR) are also not covered.

The 2006 IMF Article IV Consultations report for Lebanon noted that "gaps in the coverage of macroeconomic statistics since the civil war have hampered effective surveillance" (p. 45). While it noted that many of the coverage gaps mentioned in earlier reports remain, it added that the IMF's statistical department has been working with Lebanon to improve price and balance-of-payment data. As the IMF reports, "little progress has been achieved" (p. 40). Working within the IMF's "Coordinated Compilation Exercise," the Central Bank of Lebanon is using the Fund's "Compilation Guide on Financial Soundness Indicators" and worked with the IMF to establish a time-series database. However, the 2006 report stressed that Lebanon faces a continuing need for substantial technical assistance to improve its statistics regime.

The Principles

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

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According to the IMF's SDDS and GDDS websites, Lebanon does not subscribe to the SDDS, but participates in the GDDS's less rigorous reporting system. This 2005 ROSC identified national accounts and balance-of-payment data, as well labor and demographic statistics, price indices, non-budgetary fiscal accounts, and public enterprise data as all displaying significant coverage gaps, and specifically notes limitations in the coverage of government statistics, and remarks that a lack of interagency coordination and other institutional barriers have impeded improvements. The IMF's 2004 report found that "at present, monetary accounts, financial markets data, public debt statistics, and central government budgetary accounts are available on a regular basis" (p. 37). However, the report adds that "most other data (national accounts, prices, employment, nongovernmental public sector, and balance of payments) are estimated on the basis of partial information and indicators" (p. 37).

Ready and equal access to official statistics.

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According to the IMF's SDDS and GDDS websites, Lebanon does not subscribe to the SDDS, but participates in the GDDS's less rigorous reporting system. The Bank of Lebanon website discloses a wide range of publications that are open to public access, including monthly and quarterly bulletins, balance sheets, its Annual Report, press releases, and other such documents. The website of the Central Administration for Statistics, still under construction as of November 2007, also makes, or plans to make available statistical reports and studies to which the general public has access. Finally, the Ministry of Finance website allows public access to both fiscal performance reports and a range of time-series data.

The 2005 IMF ROSC reported that there is limited legal foundation for the provision of public access to fiscal data. The Public Accounting Law does not address this issue. Nonetheless, the ROSC found that, in practice, accessibility is good. According to the ROSC, the MoF website publishes a range of useful statistical documents, including monthly and quarterly publications (statistical table, financial statement) as well as an Annual Report. Special reports are also made available from time to time. However, limits as to the content of available reports are noted. The ROSC found that the MoF's coverage of public debt is comprehensive, but that it does not undergo any audit. The government's financial assets data are also not available.

However, a 2004 IMF report did note that technical assistance had been sought by the Ministry of Economy from the French National Institute of Statistics and Economic Studies, and that together they were developing national accounts statistics. As a result of this work, national accounts base year (1997) estimates were published in 2003. The last time official national accounts data had been published was in the mid-1970s. The 2004 report also mentioned that the IMF has collaborated with Lebanon in helping to develop price indices. The results of early work, which involved the generation of 1999 quarterly price indices using 1997 survey data, were published in 2000. A new survey, which should enable the development of appropriate weightings for consumer prices, was being undertaken by the CAS. The 2004 IMF report mentioned numerous specific deficiencies in the balance-of-payments data. These include "unrecorded exports, underestimation of private sector services and workers' remittances" (p. 38), as well as capital account statistics. The report noted that the CBL's adoption of a new International Transactions Reporting System should help to improve a better balance-of-payments statistical base.

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

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According to the IMF's SDDS and GDDS websites, Lebanon does not subscribe to the SDDS, but participates in the GDDS's less rigorous reporting system. The 2005 IMF ROSC found that, although Lebanon does have in place processes by which to reconcile budget, accounting, and financial data, the methodology employed is not made public. Lebanon does not provide data on the prior two years' budget outcomes, nor does it offer a projection for the budget year under consideration. According to the 2005 ROSC, Lebanon has offered no plans for expanding its coverage over a longer time horizon, or incorporating into the budget process a more broadly construed concept of government. The CBL, MoF, and CAS publish a variety of reports, some of which include information on the practices and procedures used in generating and assessing the statistical data on which they are based.

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

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According to the IMF's SDDS and GDDS websites, Lebanon does not subscribe to the SDDS, but participates in the GDDS's less rigorous reporting system. The IMF's 2005 ROSC found that "the processes of account reconciliation and fiscal reporting allow for the reconciliation of budget, accounting, and financial data. But as the methodology is not published and the data not reported, their reliability cannot be assessed" (p. 25). Lebanon does not provide data on the prior two years' budget outcomes, nor does it offer a projection for the budget year under consideration. According to the 2005 ROSC, Lebanon has offered no plans for expanding its coverage over a longer time horizon, or incorporating into the budget process a more broadly construed concept of government.