The 27 EU member states this week adopted a new regulation strengthening the role of Eurostat – the EU’s statistics office - in the verification of the quality of data provided by member states for statistics on their deficits and debt.

The goal of the regulation, which amends Regulation (EC) 479/2009, is to enable the Commission and member states to work together more effectively in improving the quality and reliability of statistical data used to determine government deficit and debt figures.

Its adoption follows disparities and recurring omissions in the figures communicated to the Commission by Greece, with regard to the country’s public finances and the requests formulated on several occasions by the European Council for the country to improve the gathering and processing of statistical data.

Existing provisions enable Eurostat to regularly assess the quality both of data reported by the member states and of underlying government sector accounts. Quality of data implies compliance with accounting rules, as well as the completeness, reliability, timeliness and consistency of statistical data. The new regulation approved by member states is intended to strengthen the role of Eurostat when verifying the quality of data in cases where significant risks or problems with respect to the quality of the data have been clearly identified.

According to the new provisions, visits by Eurostat officials to national authorities will become more frequent. Furthermore, when an assessment has identified specific problems, Eurostat may conduct additional methodological visits.

Commenting on the new rules, Economic and Monetary Affairs Commissioner Olli Rehn said that these will reinforce the EU’s capacity to counter incorrect reporting of statistical data.

“Still, each member state has the responsibility of providing accurate and reliable information on its national accounts and public finances. This is absolutely essential for the functioning of the eurozone, and for mutual trust in the EU,” Mr Rehn said.