Summary:
1.The household debt of Malaysians stands at RM1,030bil or 89.1% of the gross domestic product (GDP).
2.62.6% of household debt in Malaysia was for long-term loans from banks and non-banking financial institutions for property acquisition and financial investments.
3.Several measures implemented has led to a decrease in household debt growth by 6.5% this year from 7.3% in 2015 and 14.2% in 2014.
4.What was being done to prevent those between 25 and 30 years old from being declared bankrupt due to credit card debt problems.
5.Chua said credit card debt was not among the main reasons for bankruptcies.
6.The biggest cause of bankruptcies is personal loans.
Read More:
Source:The Star Online
For more Home Loan information and enquiry,
please call/ Whatsapp us at +6012-6946746
or visit our website www.malaysiahousingloan.com
Leave A Comment