Singapore is Asia’s richest country in gross terms: Allianz Global Wealth Report

SINGAPORE (Sept 28): Net financial assets of households in Singapore grew 9.6% in 2016, representing the fastest rate which the city state has experienced in four years.  

This is according to the eighth edition of financial services provider Allianz’s Global Wealth Report, which assess the asset and debt situation of households in more than 50 countries.

In a Wednesday press release, Allianz partially attributes the solid performance of Singaporean households’ net financial assets to stagnant debt growth, which remained in the doldrums at 2.5% and resulted in a declining but still relatively high debt ratio at 73.7%.

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