31/10/2022 15:50
Household debt stood at 20.1 billion euros at the end of June 2022 with the relative debt ratio standing at 81% of Gross Domestic Product (GDP), showing a slight decrease compared to the previous quarter due to GDP growth. Compared to December 2016, the household debt index shows an important decrease, reaching 35%.
According to the publication of the Central Bank of Cyprus (CBC) "Quarterly Financial Accounts" for the reference quarter ending June 2022, household assets in financial instruments amounted to 58.5 billion euros at the end of June 2022, of which 62% concerns cash, deposits and loans, 2% concerns securities, 19% shares and 17% other financial assets.
The corresponding assets of non-financial corporations amounted to 66 billion euros with a ratio of 17% in cash and deposits, 4% in loans, 1% in securities, 47% in shares and 31% in other financial assets.
The debt of the sector at the end of June 2022 amounted to 40.1 billion euros with the debt ratio standing at 161% of GDP, showing a slight decrease compared to the previous quarter, mainly due to the increase in GDP. Compared to December 2016, the debt ratio of non-financial corporations shows an important decrease, reaching 51%.
The assets of insurance companies in terms of purely financial instruments amounted to 4.1 billion euros and are distributed as follows: 12% in cash and deposits, 3% in loans, 24% in securities, 48% in shares and 13% in other financial assets.
Investment funds have 8.1 billion euros assets in financial instruments of which 5% invested in cash and deposits, 13% in loans and securities, 80% in shares and 2% in other financial assets.
Investments in financial instruments of the pension funds amounted to 3.9 billion euros and mainly concern cash and deposits at a rate of 25%, 16% in loans, 2% in securities, 44% in shares and 13% in other financial assets.