In its 2021 annual report, Bank Negara revealed that while Malaysia’s household debt-to-GDP ratio has improve to 89%, compared to a record 93% a year ago,
we still have one of the highest ratios in the region. This is further exacerbated by the fact that most Malaysian households have low saving buffers. What does all this reveal about the financial resilience of Malaysian households? Melisa Idris and Sharaad Kuttan speak to Nirmala Subramaniam, Head of Household Financial Education, Credit Counselling and Debt Management Agency (APKP).