Published: 22.11.2021

Today the Council of Latvijas Banka approved the Statistical Programme of Latvijas Banka for 2022 and outlined the plans for work in the field of statistics in the medium term (2023–2025).

The Statistical Programme of Latvijas Banka for 2022 aims to provide information on the key tasks of Latvijas Banka in the field of statistics in 2022, types of statistics collected by Latvijas Banka in pursuit of its tasks, the legal framework, frequency and deadlines for compilation of these statistics, as well as information on the providers and the main users of the respective statistical data. The programme also contains information on the statistics published by Latvijas Banka pursuant to the laws of the Republic of Latvia and to ensure continuity of publication of important time series or more user-friendly access to important information published by the European Central Bank.

Priority tasks for 2022 in the field of statistics include both providing the statistics and drafting relevant legislation. Latvijas Banka will ensure the compilation and publication of the statistics on card-based payment transactions sent as well as Latvia's data collected within the framework of the Fourth Household Finance and Consumption Survey. In view of the new Law on Latvijas Banka taking effect on 1 January 2023, Latvijas Banka will develop requirements and procedures regarding the availability for research purposes of statistical data allowing for indirect identification of the statistical data providers as well as recommendations for imposing sanctions in the field of statistics. Pursuant to the new Law, the currently effective Latvijas Banka regulation for compiling and submitting statistical data will also be re-issued.

The medium-term statistical work programme of Latvijas Banka for 2023-2025 will ensure that respondents, data users and other stakeholders are provided with transparent information (the characteristics of work and the result, the planned deadline as well as the impact on the respondent) on Latvijas Banka's operations planned in the field of statistics in the medium term. The statistical priorities for 2023 are related to optimisation of the reporting burden on individual groups of statistical data providers submitting the "Quarterly Financial Report (1-FP)" to Latvijas Banka, as well as implementation of new statistical requirements in the field of investment fund and insurance corporation statistics.

According to Council Regulation (EC) No 2533/98 of 23 November 1998 concerning the collection of statistical information by the European Central Bank, the European System of Central Banks (ESCB) follows the principle of professional independence in the fulfilment of its tasks. Publication of the statistical work programme is one of the performance indicators for the above principle defined in the document "ESCB Public Commitment on European Statistics".

Latvijas Banka carries out several tasks significant for the functioning of the economy and financial system. One of the most important tasks is the collection, storage and processing of statistical data, as well as the development, compilation, analysis and dissemination of statistical information pursuant to the Law on Latvijas Banka. Latvijas Banka compiles monetary and financial statistics, banknote statistics, payment and payment system statistics, financial stability statistics, balance of payments and international investment position statistics, as well as gets actively involved in the compilation of statistical data at the European level.

Both documents – the Statistical Programme of Latvijas Banka for 2022 and the medium-term statistical work programme of Latvijas Banka for 2023–2025 – will be published on the website of Latvijas Banka.