According to the an article published on the Straits Times, credit card debt hit an estimated $3.4 billion last December, the highest for that month in 20 years. If I assume Singapore population stands at 4.5 million, it would mean every single soul in Singapore to have spent S$755 each. This number does not good especially with climbing unemployment and retrenchment rates.
Credit card debts ballooning [via]
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