Awareness And Education On Savings Needed To Curb Household Debts

Dr Juita Mohamad, Director of Economics and Business Unit and Acting Director of Research, IDEAS

04-Apr-22 07:45

Awareness And Education On Savings Needed To Curb Household Debts

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Bank Negara’s Financial Stability Review for Second Half of 2021 report revealed that household debt grew at a slower pace of 4.1% year-on-year as at December 2021 and the household debt-to-GDP ratio declined to 89%, however our household debt remains on the higher end as compared to our peers in this region. But what can we do to lift ourselves out of this debt situation? Dr Juita Mohamad, Director of Economics and Business Unit and Acting Director of Research of IDEAS shares her thoughts with us. Image credit: Shutterstock.com

Produced by: Tan Chen Li

Presented by: Shazana Mokhtar, Wong Shou Ning, Tan Chen Li

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Categories: personal finance, financial literacy, markets, social issues

Tags: savings, malaysian economy, debt-to-GDP ratio, household debt, household savings, bank negara malaysia, ideas,

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