DOSM Launches National Transfer Accounts To Support Data-driven Policy Planning

PUTRAJAYA, April 29 (Bernama) -- The Department of Statistics Malaysia (DOSM) today marked another key milestone with the launch of the National Transfer Accounts (NTA), an initiative aimed at strengthening national policy planning through an evidence-based approach.

Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said the NTA provides a systematic method of measuring income and consumption across various age groups, as well as how members of different generations support one another.

“The NTA can be used as a method in formulating evidence-based policies to address the effects of changing population age structures more effectively,” he said when launchng the NTA here today.

Mohd Uzir said DOSM is the third National Statistical Office (NSO) to have published the NTA, after South Korea and Colombia.

“We will continue to enhance our international visibility, including through the proposal to establish a City Group NTA,” he said, adding that the development of the NTA in Malaysia began in 2014.

In a separate statement, DOSM said it has published the Malaysia NTA 2022, which is based on a framework and modelling techniques adapted from the National Transfer Accounts Manual: Measuring and Analysing the Generational Economy, United Nations (2013).

The NTA in this publication is compiled based on data from the Mid-Year Population Estimates, National Economic Accounts, the Household Income and Expenditure Survey, and records obtained from various agencies and other relevant sources.

DOSM said the Malaysia NTA 2022 reveals an excess of income over consumption among workers from the age of 29, with the highest level recorded at age 44 at RM14,523 per capita per year.

-- BERNAMA