Corporate debt was 133% of GDP, according to data published on Tuesday by the Central Bank of Cyprus
of Gross Domestic Product (GDP), household debt rose to 133% of GDP at the end of December 2023, while corporate debt stood at 133% of GDP, according to data released on Tuesday by the Central Bank of Cyprus (CBC).
According to the publication “Quarterly Financial Accounts” for the reference quarter ending December 2023 of the CBC, household assets in financial instruments amounted to 55.8 billion euros at the end of December 2023, of which 57% is in cash , deposits and loans, 2% concerns securities, 23% shares and 17% other financial items.
Their debt amounted to 19.7 billion euros at the end of December 2023 with the relative debt ratio at 66% of GDP, showing a marginal decrease compared to the previous quarter, mainly due to the increase in GDP.
< p>Compared to December 2016, the household debt index shows a significant reduction of 50%.
Furthermore, according to the CBC, the corresponding assets of non-financial companies amounted to 67.6 billion euros with a ratio of 17% in cash and deposits, 5% in loans, 0.6% in securities, 45% in shares and 32% in other financial assets.
The debt of the sector at the end of December 2023 amounted to 39.4 billion euros with the debt ratio4 standing at 133% of GDP, marking a decrease compared to the previous quarter mainly due to the increase in GDP.
Compared to December 2016, the debt index of non-financial companies shows a noticeable decrease of 78%.
Insurance companies, investment organizations and pension funds
In addition, according to the CBC, the assets of insurance companies, in terms of purely financial instruments, amounted to 5.0 billion euros and are distributed as follows: 8% in cash and deposits, 2% in loans, 29% in securities, 43% in shares and 18% in other financial assets.
Accordingly, investment organizations have assets in financial instruments of 5.9 billion euros, 5% invested in cash and deposits, 15% in loans and securities , 78% in shares and 2% in other financial items.
Investments in financial instruments of the pension funds amounted to 4.2 billion euros and mainly concern cash and deposits at a rate of 17%, in loans 15 %, 7% in bonds, 52% in shares and 9% in other financial items.
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