Credit & Loan

Mind-Blowing Facts About Debt

FACT #1: SINGAPORE’S DEBT-TO-GDP RATIO RANKS THIRD IN THE WORLD With a Debt-to-GDP ratio of 382%, Singapore ranks third in the world according to a 2015 report published by McKinsey Global Institute. The global report found out that Japan lead with 400% followed by Ireland and Singapore. This significant percentage includes the total debt of the government, households, and non-financial corporations. It comes no surprise that a large part of the country’s debt hails from the corporate sector. FACT #2: