High household debts to GDP?

I refer to the article “Singapore household debts swell to 77 pc of GDP, Moody’s downgrades top three banks to negative” (The Standard (Hong Kong), Jul 15).

It states that “Credit rating agency Moody’s downgraded the outlook of Singapore’s three main banks, DBS  Bank, Oversea-Chinese Banking Corp and United Overseas Bank,  to “negative” from  ”stable” amid rising property prices and mounting household debt.

Domestically, household debt increased to 77.2 percent of gross domestic product as of March 2013 from 64.4 percent at the end of 2007, with private  property prices growing 120 percent  during the same period.”

2nd highest in the “Asia-10”?

According to the Singapore Financial Stability Review, November 2015 – the chart 1.6 on page 6 – Household Debt-to-GDP Ratio : Asia-10 – shows that Singapore, at 70+ per cent is the second highest.

Public debt to GDP 100%?

Singapore’s public debt to GDP is about 100 per cent.

According to the article “Pulled back in – The world is entering a third stage of a rolling debt crisis, this time centred on emerging markets” (The Economist, Nov 13)

S’pore’s private debt highest at 250% of GDP?

– the chart shows that Singapore has the highest “emerging market private debt as % of GDP”, at about 250% of GDP, amongst the 14 countries shown in the chart.

S’pore’s debt growth highest?

Singapore also had the highest “debt” growth from 2007 to 2014.

What do you think?

Leong Sze Hian