DEPUTY Prime Minister and Union Minister for Planning and Finance U Win Shein highlighted the critical need for accurate and high-quality data during the meeting 1/2024-2025 of the Central Committee on Data Accuracy and Quality Assurance held at the Ministry of Planning and Finance conference hall in Nay Pyi Taw yesterday.
In his remarks, the Union minister stressed that accurate and reliable statistics on economic sectors such as agriculture, livestock and manufacturing are essential for national economic planning. He emphasized the importance of maintaining consistency between recorded data and ground realities, particularly regarding agricultural areas by region and state, harvested acreage, productivity, consumption, exports and surplus stocks. He then noted that the accuracy of trade, investment, fiscal, monetary and social data is crucial for calculating the nation’s Gross Domestic Product (GDP) accurately and implementing effective annual national plans and strategies.
The Deputy Prime Minister also reported that a survey on micro, small and medium-sized enterprises (MSMEs) was conducted in November 2024 across Nay Pyi Taw, Bago, Magway, Mandalay, Yangon and Ayeyawady regions. He underscored the importance of ensuring the survey results are accurate and comprehensive as they will guide policy and processes to foster growth in the MSME sector and create employment opportunities.
He further pointed out the necessity of collecting accurate information on current basic commodity prices, market flows, agricultural production, output levels, consumption and stock availability across regions and states. Reliable data is required for assessing disaster-related damages, which can only be accurately compiled and calculated if basic records from relevant departments are complete and regularly updated.
To streamline data collection, U Win Shein called for standardized formats and mechanisms under the “One Mechanism, One Data, One Source” framework. He also highlighted the importance of having detailed and accurate data for short-, medium- and long-term recovery and reconstruction efforts.
During the meeting, the Secretary of the Central Statistical Organization presented updates on the resolutions of the Central Committee Meeting 1/2023, as well as the implementation of statistical tasks. Union ministers and attendees discussed the importance of data accuracy and quality assurance in their respective sectors. The Union Minister concluded by directing the relevant parties to address any gaps through coordinated and integrated efforts. — MNA/ KZL
