KUCHING: Household debts in the country grew an average 15.9% in the past six years, with outstanding (household) loans at RM394.8bil as at end-2006.
About 50% of the debts, which accounted for 72.3% of the gross domestic product (GDP), were mortgages while a further 24% were hire-purchase financing, said Bank Negara Credit Counselling and Debt Management Agency chairman Datuk L. Meyyappan.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
