The debt of households and businesses reaches €60 billion, as can be seen from data announced by the Central Bank.
As reported in the “Quarterly Financial Accounts” publication for the reference quarter ending March 2023, household debt at the end of March 2023 stood at €20.2 billion with the relative debt ratio standing at 73% of Gross Domestic Product (GDP), showing a marginal decrease compared to the previous quarter due to the increase in GDP.
Compared to December 2016, the household debt index shows a noticeable decrease reaching 42%.
Corporate debt at the end of March 2023 amounted to €39.9 billion with the debt ratio standing at 145% of GDP, marking a marginal increase compared to the previous quarter. Compared to December 2016, the debt index of non-financial companies shows a noticeable decrease of 66%.
The assets of households in financial instruments amounted to €59.6 billion at the end of March 2023 of which 61% concerns cash, deposits and loans, 2% concerns securities, 20% shares and 18% other financial assets.
The corresponding assets of non-financial companies amounted to €66.3 billion with a ratio of 18% in cash and deposits, 4% in loans, 0.3% in securities, 48% in shares and 30% in other financial assets.
Insurance companies, investment organizations and pension funds
Insurance companies' assets in terms of purely financial instruments amounted to €4.6 billion and are distributed as follows : 9% in cash and deposits, 3% in loans, 26% in securities, 43% in shares and 19% in other financial assets.
Accordingly, the investment organizations have assets in financial instruments of €7, 8 billion invested 4% in cash and deposits, 10% in loans and securities, 83% in shares and 3% in other financial assets.
Investments in financial instruments of the pension funds amounted to €3, 8 billion and concern mainly cash and deposits at a rate of 22%, 16% in loans, 2% in securities, 50% in shares and 10% in other financial items.
source: stockwatch/Georgia Hanni
