Mubasher: Canadian household debts reached the highest level internationally, as these debts' ratio reached 101% of the gross domestic product (GDP), said a recent report by The Organisation for Economic Co-operation and Development (OECD) on Thursday.
There was a large increase in the prices of houses in Canada, in line with a rise in debts’ ratio, the OECD added.
OECD concluded that household debts in South Korea to its GDP surged 93%, followed by the UK with 88%, and the US with 80%, whereas it retreats in France and Germany down 60%.
