Part 1 : Sustainable Economics and a Sound Base
In the official GDP publication of GDP 2017, GDP 2016 is 1.919 billion Guilders. In the GDP 2020 publication GDP 2016 is 2.745 billion guilders. That is an increase of 43%
Institutions like our Central Bank and the CFT as well as international organizations like the IMF and the World Bank have no choice but to adopt these official statistics as published. They must incorporate the official GDP statistics as provided by the official authority.
One might argue, who cares about GDP in 2016, that is 6 years ago!
Why this is important for the private sector
The SHTA has attempted to address the GDP issue. It has been addressed with TEATT/STAT, Parliament, the Central Bank, the IMF, the World Bank, CFT, the COHO and probably a few more entities. The response is usually somewhere along the lines of issues with data and capacity. While we certainly share those concerns that reasoning cannot justify using the available GDP statistics, there is simply too much at stake if we have the number wrong. Setting fiscal policy and budget spending based on overinflated income projections is a sure recipe for disaster.
