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Household and business debt records small decrease in Q1 2016

Ηousehold debt recorded a small decrease at the end of March 2016 compared with the previous quarter, reaching in absolute numbers 22.2 billion euros with the corresponding debt ratio remaining relatively stable with a marginal drop at 127.3% of GDP.

According to data by the Central Bank of Cyprus (CBC) financial assets of households stood at the end of March 2016 to 46.6 billion euro, of which 65% were currency and deposits, 1% debt securities, 19% shares and 15% other financial instruments.

The corresponding financial assets of non-financial corporations stood at 52.4 billion with a ratio of 14% in currency and deposits, 7% in loans, 2% in debt securities, 50% in shares and 28% in other financial instruments.

The sectors` debt recorded a marginal decline compared with the previous quarter, amounting to 39.5 billion euro, with the debt ratio recording a small decline, reaching 226.9% of GDP.

Insurance companies, investment funds and pension funds

Financial assets of insurance corporations in terms of purely financial instruments amounted to 3.1 billion euro and is distributed by 15% in currency and deposits, 3% in loans, 19% in debt securities, 46% in shares and 17% in other financial instruments.

Correspondingly, investment funds have financial assets of 2.5 billion euro invested by 6% in currency and deposits, by 6% in loans and securities, by 77% in shares and by 11% in other financial instruments.

Investments in financial assets of pension funds amounted to 2.7 billion euro, mainly in currency and deposits by 59%, 31% in loans, 5% in debt securities, 2% in shares and 3% in other financial instruments. (CNA)

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