Philippine borrowers owe four times their monthly income

Philippine credit card debt has reached a "critical" risk level, with borrowers owing over four times their monthly income, according to a new report. The report by Roshi Pte Ltd. found the average Filipino credit card debt is approximately P92,800, while the average monthly income is around P21,900, resulting in a 425% debt-to-income ratio. This is the highest in Southeast Asia. The study also highlighted that Singapore has the highest average credit card debt, but it is considered manageable due to higher incomes and a strong financial infrastructure.