Reap The Fruit of Your Labour
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Bank Negara Malaysia issued its Financial Stability Review for the first half of 2019, highlighting data on country’s household debt remains high at 82.2% of GDP, driven by home loans.
Housing loans accounted for 32% of the total outstanding loans in the banking system as at July 30, costing around RM 552 billion out of RM 1.7 trillion.
However, Bank Negara said that the financial system is still resilient enough to withstand adverse simulated shocks.
04:08 - According to the Ministry of International Trade and Industry, Malaysia’s labour productivity as measured by value added per hour worked was maintained at 2.4% in the second quarter of 2019.
Labour productivity per person employed grew at 2.8%, compared to 2.2% in the first quarter.
The growth in productivity per person employed reflects the growth in the Malaysian economy of 4.9%, and the growth in employment of 2.1%.
Presented by: Julian Ng, Wong Shou Ning, Sharidz Abdullah
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Tags: Household Debt, Bank Negara, Loans, Labour, Productivity, Economy,