The new Gross Domestic Product (GDP) series released by the Central Statistical Organisation (CSO) in February 1999 is with reference to base price of

1. The Central Statistical Organisation (CSO), now known as the National Statistical Office (NSO), periodically revises the base year for national accounts statistics, including the Gross Domestic Product (GDP). 2. This revision is necessary to capture the structural changes occurring in the economy and ensure the estimates remain relevant. 3. In February 1999, the CSO introduced a new series of national accounts, shifting the base year from the previous 1980-81 to 1993-94. 4. This new series used the prices of 1993-94 as the reference point for calculating constant price GDP estimates.