Malaysia's rising household debt hits new record of 86.8% of GDP

MALAYSIA’S household debt level has risen to a new record of 86.8% of gross domestic product (GDP) at end-2013, driven by loans for properties and motor vehicles. That is the highest household-debt-to-GDP level in Asia.

“The ratio of household debt-to-GDP is expected to remain elevated over the next few years as demand for credit is likely to remain strong, particularly from the relatively young labour force and more affluent population setting in urban centres,” Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz said at a press briefing.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 48
Cxense type: NA
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Business , Household debt


Next In Business News

Bursa Malaysia CEO takes over as chairperson of CEO Action Network
No merger of AirAsia's aviation business - Tony Fernandes
G7 price cap on Russian oil kicks in, Russia will only sell at market price
Cagamas concludes issuance of RM1.09bil bonds, sukuk
Bursa Malaysia aims for 300 PLCs to participate in transformation programme by 2025
Oil prices climb after Opec+ keeps output cut targets, China eases Covid curbs
Chinese snack maker Weilong Delicious aims to raise up to US$141mil in trimmed-down Hong Kong IPO
Yuan jumps past 7 per dollar as China eases some Covid curbs
Foxconn expects Covid-hit�China plant�back to full output in late Dec-early Jan�-source
Mestron secures RM10mil order from Singapore's Tamaco

Others Also Read