The household debt ratio rose to 77% of the Gross Domestic Product (GDP) at the end of September 2022, marking a slight decrease compared to the previous quarter, due to the increase in GDP, according to data from the Central Bank of Cyprus, for the quarter in reference that ends in September 2022. Over the same period, the debt ratio for non-financial corporations stands at 150% of GDP.
In more detail, the assets of households in financial instruments amounted to 58.6 billion euros at the end of September 2022, of which 61% concerns cash, deposits and loans, 2% concerns securities, 20% shares and 18% other financial assets. Their debt stood at the end of September 2022 at 20.1 billion euros with the relative debt ratio standing at 77% of Gross Domestic Product (GDP), showing a small decrease compared to the previous quarter due to the increase in GDP.
The CBC notes that compared to December 2016, the household debt Index shows a noticeable decrease, reaching 39%.
The corresponding assets of non-financial companies amounted to 66.6 billion euros with a ratio of 18% in cash and deposits, 4% in loans, 0.3% in securities, 47% in shares and 31% in other financial assets. The sector's debt at the end of September 2022 stood at €39.3 billion with the debt ratio at 150% of GDP, down 8% from the previous quarter, mainly due to GDP growth. Compared to December 2016, the debt Index of non-financial companies shows a noticeable decrease, reaching 61%.
In addition, the assets of insurance companies in terms of purely financial instruments amounted to 4.3 billion euros, of which 12% in cash and deposits, 3% in loans, 22% in securities, 46% in shares and 18% in other financial data.
Accordingly, investment institutions have assets in financial instruments of 7.7 billion euros invested 5% in cash and deposits, 13% in loans and securities, 79% in shares and 2% in other financial assets.
Investments in financial instruments of pension funds amounted to 3.8 billion euros and mainly concern cash and deposits at a rate of 24%, 16% in loans, 3% in securities, 44% in shares and 13% in other financial assets.
Source: Philenews
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