Indonesia's Household Debt-to-GDP Ratio is the 5th Lowest in the G20; Australia's is the Highest

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Vika Azkiya Dihni 20/01/2022 15:50 WIB

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Australia's debt-to-gross domestic product (GDP) ratio reached 120% in June 2021. This figure placed Australia first among G20 nations.

Household Debt-to-GDP Ratio of G20 Countries (June 2021)

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Indonesia's Household Debt-to-GDP Ratio is the 5th Lowest in the G20; Australia's is the Highest

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Household Debt-to-GDP Ratio of G20 Countries (June 2021)

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Indonesia's household debt-to-gross domestic product (GDP) ratio ranks fifth lowest among other G20 countries. Quoting *Trading Economics*, the ratio reached 17.4% as of June 2021.

Meanwhile, Australia's household debt-to-GDP ratio reached 120% in June 2021. This figure places Australia first among G20 countries.

Canada ranks second on this list. Its household debt-to-GDP ratio reached 109%. South Korea is in third place with a ratio of 106%. Only three countries among G20 members have a household debt-to-GDP ratio above 100%.

Argentina occupies the lowest position. Argentina's household debt-to-GDP ratio is only 4.7%.

Citing *Global Economy*, the household debt-to-GDP ratio is defined as the total household debt to banks and other financial institutions divided by a country's GDP. Many believe that in the short term, an increase in the household debt-to-GDP ratio can stimulate faster economic growth and reduce unemployment.

Editor : Annissa Mutia

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Indonesia's Household Debt-to-GDP Ratio is the 5th Lowest in the G20; Australia's is the Highest

Indonesia's Household Debt-to-GDP Ratio is the 5th Lowest in the G20; Australia's is the Highest

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Indonesia's Household Debt-to-GDP Ratio is the 5th Lowest in the G20; Australia's is the Highest

Indonesia's Household Debt-to-GDP Ratio is the 5th Lowest in the G20; Australia's is the Highest

Tags

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