Monday, April 4, 2016

MALAYSIA:::MTUC worried over rise in household debt

A recent media report by The Star on April 2, 2016, which said that Malaysia's household debt-to-gross domestic product (GDP) ratio increased to 89.1 percent as of 2015 from 86.8 percent, is quite alarming. The report also stressed that at 89.1 percent, Malaysia has one of the highest household debts in the region. Malaysia’s household debt to GDP ratios have almost doubled between 2008 and 2015.
The Malaysian Trades Union Congress (MTUC) sees this figure as one of the most alarming development, and that the risk of high household debt may worsen as the nation is facing difficult economic situation.