Malaysia’s consumer debt is at 76.6 per cent of its GDP and some economists believe that the growing consumer credit could rock the country’s economy.
Malaysia’s consumer debt is at 76.6 per cent of its GDP and some economists believe that the growing consumer credit — where each ringgit of growth nearly matches an extra ringgit of consumer debt — could rock the country’s economy, the Financial Times (FT) reported today.
The country’s household debt ratio is the highest in the region, the influential daily reported, citing Johanna Chua, an economist at Citigroup, who believed this makes the Southeast Asia’s third largest economy vulnerable, especially as lower-income households bear a greater share of the overall debt.
The Asian Century Report 