The International Monetary Fund (IMF) announced on Wednesday that Saudi Arabia has subscribed to its Special Data Dissemination Standard (SDDS), marking a major step forward for official statistics in the country.
Subscription to the SDDS is expected to enhance the country’s availability of timely and comprehensive statistics and contribute to the pursuit of sound macroeconomic policies.
Saudi Arabia is the first SDDS subscriber among the G20 SDDS countries to adopt the SDMX technology in the National Summary Data Page (NSDP)— a one-stop online data publication portal—facilitating dissemination in both human- and machine-readable (SDMX) formats.
Louis Marc Ducharme, Chief Statistician and Data Officer, and Director of the Statistics Department of the IMF congratulated the Saudi authorities for this major milestone in the country’s statistical development.
“The subscription to the SDDS underscores Saudi Arabia’s strong commitment to data transparency as well as to the adoption of international best practices in statistics,” Ducharme said.
For his part, Abdulaziz Alrasheed, the Saudi Assistant Minister for International Financial Affairs and Fiscal Policies, said: “Saudi Arabia and the IMF have been working continuously to improve official statistics, and subscription to the SDDS is an important milestone ahead of Saudi Arabia G20 Presidency.”
“The subscription to SDDS is fully in line with our Vision 2030 and objective of embracing transparency, with a view to enhance macroeconomic policies and ensure well-informed investment and policy decisions. Indeed, we are committed to further strengthening our statistical system and data transparency, in line with best practices,” he added.