CYPRUS: Households and businesses debt registers small drop in Q2

Debt owed by households and businesses recorded a small drop on a quarter-to quarter basis in April to June, Central Bank of Cyprus data shows.

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Financial assets of households were at the end of June 2018 €45.5 bln, 64% of which was cash and deposits, 2% securities, 20% shares and 14% other financial assets.

Household debt stood in June stood at €20.2 bln, or 100.2% of GDP, recording a small drop in relation to the previous quarter.

 

The drop is a significant 19% when compared to December 2016 when the debt of households was equivalent to 119% of GDP.

 

At the same time, non-financial company assets reached €58.8 bln, 16% of which accounts for cash and deposits, 7% loans, 1% securities, 49% shares and 27% of which concerns other financial assets.

The debt of non-financial companies stood at at €39.5 bln or 196.4% of GDP, also recording a small drop in relation to the previous quarter.

Compared to December 2016, when the debt was at 219% of GDP, the drop is greater and reaches 23%.

According to the data, financial assets of insurance companies were €3.9 bln, 12% of which was cash and deposits, 2% in loans, 25% in securities, 41% in shares and 20% in other financial assets.

Investment company assets in Q2 were €4.0 bln, 3% was invested in cash and deposits, 8%  in loans and securities, 85% in shares and 4% in other financial assets. 

Retirement funds investments were €3.6 bln of which 38% was invested in cash and deposits, 16% in loans, 2% in securities, 35%  in shares and 9% in other financial assets.