To address the statistical data requirements in view of the current global financial crisis and emerging concerns, the National Statistical Coordination Board (NSCB) approved through Memorandum Order No. 008 Series of 2009, the creation of a Task Force on Flash Indicators to Measure the Impact of Global Crisis in the Philippines (TFFI) during its meeting held last March 11, 2009 at the NEDA sa Pasig.

The TFFl is tasked to make available relevant and useful data for planning and programming purposes amidst the global financial crisis. Among its functions are : 1) identify and generate “flash” indicators for key economic variables on a daily, weekly or monthly basis for government offices; 2) recommend a dissemination system to ensure that the indicators are made available to the public;  3) monitor the generation of the indicators in terms of availability and timeliness; and 4) recommend statistical policies to the NSCB Executive Board for the institutionalization of the compilation of the “flash” indicators .

The newly-created TF is composed of the Directors of the National Economic and Development Authority (NEDA) and the National Statistical Coordination Board (NSCB) as Chairperson and Co-Chairperson, respectively. Directors from the following agencies sit as members of the TF : Bangko Sentral ng Pilipinas (BSP), National Statistics Office (NSO), Department of Finance (DOF), Department of Budget and Management (DBM), Department of Labor and Employment (DOLE), Department of Trade and Industry (DTI), Securities and Exchange Commission (SEC) and a representative from the Exports Development Council (EDC). 

The organizational meeting of the said TF was held on April 1, 2009 at the NSCB to discuss the scope and coverage of their work, terms of reference, and programs and activities, among others.  The Task Force is expected to submit to the NSCB Executive Board its final report and recommendations on or before May 13, 2009.

The NSCB Executive Board formulates policy measures in the form of resolutions and memorandum orders designed to introduce new statistical frameworks and activities, enhance existing methodologies, and improve the quality and accessibility of government-produced statistics, among others. Information about the NSCB Executive Board and other resolutions passed by the NSCB can be found on the NSCB website at:

http://www.nscb.gov.ph/aboutus/board/default.asp and
http://www.nscb.gov.ph/resolutions/default.asp

ROMULO A. VIROLA
Secretary General

Contact Person:

Ruben V. Litan
Tel. No. (632) 890-8456
Email: rv.litan@nscb.gov.ph

Related Link:

NSCB Memorandum Order No. 008 Series of 2009