Holistic reform needed to tackle household debt

The country’s household debt stood at RM1.53 trillion by the end of 2023.

PETALING JAYA: The surge in the country’s household debt level is symptomatic of broader systemic issues in the economy rather than isolated financial mismanagement.

While economists generally applaud the government’s efforts in promoting financial literacy among Malaysians, more comprehensive reforms are needed to get to the root of the problem.