Release Of Integrated Institution Balance, BPS Wants To Prepare National Economic Data Comprehensively

Head of BPS Margo Yuwono in the Launch and Socialization of NIT. (Photo: Doc. Antara)

JAKARTA - The Central Statistics Agency (BPS) launched an Integrated Institution Balance (NIT) which presents comprehensive national economic data and a comprehensive picture.

"The provision of NIT is also Indonesia's commitment to fulfill the recommendations of the Data Gap Initiative (DGI), especially at 2.8 points regarding the dissemination of the Sector Accounts and Balance Sheet (SAB) or in Indonesian we translate it into NIT," said Head of BPS Margo Yuwono at the launch and Socialization of NIT quoted by Antara, Tuesday, November 22.

The process of preparing NIT is carried out through a series of stages, ranging from data collection from various ministries and institutions, data reconciliation, to review, and data analysis.

In the preparation of NIT, BPS cooperates with Bank Indonesia and received full support from the Ministry of Finance, Ministry of State-Owned Enterprises (BUMN), and the Financial Services Authority (OJK) as the main data provider.

"NIT is the estuary of integrated, comprehensive, and coherent macroeconomic data. Therefore, collaboration and cooperation between agencies in the preparation of NIT must be maintained and strengthened," he said.

The preparation of NIT is also carried out by harmonizing to ensure the consistency of macroeconomic data, among others, the harmonization of Gross Domestic Product (GDP) data from three approaches, both production, expenditure, and income.

Furthermore, NIT data consistency was also carried out with a static financial government released by the Ministry of Finance, NIT consistency with static monetary-financial from Bank Indonesia, and NIT consistency with BI's balance of payments data.

"This harmonization effort is a step to maintain the consistency of various data sources in order to ensure the quality of Indonesia's macroeconomic data," he said.