With reference to the International Comparison Program (ICP) 2017, consider the following statements:
1. The International Comparison Program (ICP) is the largest worldwide data-collection initiative, under the guidance of UN Statistical Commission (UNSC), with the goal of producing PPPs which are vital for converting measures of economic activities to be comparable across economies.
2. Along with the PPPs, the ICP also produces Price Level Indices (PLI) and other regionally comparable aggregates of GDP expenditure.
Which of the statements given above is/are correct?