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Saudi Study: Misuse of Credit Cards Behind Youth Debt Burden

A survey among Saudi youth in the age group of 18-24 shows that 52% of young people are carrying a heavy debt burden because of their misuse of credit cards.

Two-thirds of respondents expressed concern about the high cost of living, shortage of low-cost housing, and unemployment.

The study was conducted by Karen Hughes, a former senior U.S. State Department official in the Bush administration and currently president of a consulting firm.

Source: Al-Watan, Saudi Arabia, March 10, 2010

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