Finance
Over 4,100 Malaysian civil servants declared bankrupt since 2020, says deputy finance minister
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Between 2020 and June 2025, 4,194 Malaysian civil servants (0.3% of the 1.6 million workforce) declared bankruptcy. Deputy Finance Minister Lim Hui Ying highlighted government initiatives to address rising household debt, including credit counseling, financial management programs, and a rule requiring civil servants' net monthly salary to be at least 40% of their gross income. While Malaysia's household debt reached RM1.65 trillion (84.3% of GDP) by March 2025, it's considered manageable due to RM3.45 trillion in household financial assets. Affordable housing schemes like Residensi Madani and PR1MA are also being implemented.
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