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Govt plans more measures to slash household debts.
Byline: June Ramlee
THE government will do more to bring down household debts, which stand at RM486 billion out of the total debts of RM876 billion recorded last year.
Deputy Finance Minister Senator Datuk Donald Lim Siang Chai said the RM486 billion was a 12 per cent increase from the 2009 level.
"Household debts accounted for 55 per cent of the total debts last year while the rest came from businesses.
"We believe the debts accorded for businesses were low because banks were taking a safe approach. These banks should take (more) risks or else how are we going to move from a developing nation status to a developed nation status?" Lim was speaking …
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