Nearly 3 in 10 middle-income adults carry a balance on their credit card most or all of the time, and the same households are five times as likely to borrow if faced with a $ expense as those who never carry a balance. Borrowing money is not the only way that middle-income households cope with unexpected expenses.
Meanwhile, Goldman Sachs EM Outlook 2020 expects the country’s GDP to grow by 5.8 % and 6.5 % in 2019 and 2020, respectively. Such is higher than the GDP growth forecasts for Thailand (2.4 and 2.8 % for 2019 and 2020, respectively), Indonesia (5.0 and 5.2 %), and Malaysia (4.5 and 4.3 %).