Singapore Credit Card Debt Hits 10-Year High: Economic Pressure Mounts

In recent months, Singapore has witnessed a significant surge in credit card debt, reaching 9.07 billion SGD. This marks a decade-high and sparks concerns amid broader economic pressures. Rising inflation and shifts in consumer spending are key factors contributing to this financial strain. As credit card holders decline, revolving debt remains an issue that underscores deeper questions about financial management in the nation.