Debt as a percentage of Gross Domestic Product (debt ratio) of households has decreased by nearly 30% and for non-financial corporations 57% in the last five years, the Central Bank announced in a statement, regarding the quarterly financial accounts it published on Monday.
Specifically, household assets in financial assets at the end of December 2021 amounted to 57.9 billion euros, of which 61% relates to cash, deposits and loans, 2% relates to securities, 20% were shares and 17% other financial instruments. Their debt amounted to 20.1 billion euros at the end of December 2021, with the relevant debt ratio being at 86% of GDP, showing a slight decrease compared to the previous quarter due to GDP growth. However, compared to December 2016, the household debt ratio shows a significant decrease of up to 30%.
Similarly, the corresponding assets of non-financial corporations amounted to 65.7 billion euros with a ratio of 17% in cash and deposits, 5% in loans, 1% in securities, 48% in shares and 29% in other financial instruments. The sector's debt at the end of December 2021 amounted to 36.2 billion euros with the debt ratio being at 155% of GDP, recording a slight decrease compared to the previous quarter mainly due to GDP growth. However, compared to December 2016, the debt ratio of non-financial corporations shows a significant decrease of up to 57%.
The assets of insurance corporations also show a small increase, which in terms of purely financial instruments amounted to 4.3 billion euros and is distributed as follows: 11% in cash and deposits, 3% in loans, 24% in securities, 49% in shares and 14% in other financial data.
Respectively, the investment funds have assets in financial instruments of 8.2 billion euros invested 5% in cash and deposits, 13% in loans and securities, 80% in shares and 3% in other financial instruments.
Investments in financial instruments of the pension funds amounted to 3.9 billion euros and mainly concern cash and deposits at a rate of 26%, 15% in loans, 3% in securities, 44% in shares and 11% in other financial instruments.