Household debt dips to 77% of GDP

Household debt reached €20 bln, equivalent to 77% of Gross Domestic Product in Q3 2022, marking a slight decrease compared to the previous quarter due to the increase in GDP, according to


Central Bank warns over private debt

Cyprus Central Bank governor Constantinos Herodotou called for awareness over rising private debt as the economic outlook deteriorates due to the prolonged Russian invasion of Ukraine. Herodotou called for increased vigilance to


Debt restructuring slowdown

Debt restructuring declined to €545 mln in the first six months, with loan renegotiations slowing following a record year due to the pandemic as non-performing loans declined to their lowest point since

Private debt reaches €56.2 bln

Debt held by households and non-financial corporations in the first quarter of 2022 amounted to €56.2 bln, according to the Central Bank of Cyprus. Household debt in Q1 was €20.2 billion, corresponding

New household debt crisis looms

Economists fear that hiking inflation now being fed by the war in Ukraine could trigger another debt crisis on the island as households struggle to pay off their loans. According to CyStat

Stick to the 28/36 rule

Rising prices have been a major topic of discussion over the past few weeks. In essence, however, individuals can do little to mitigate the effects of rising fuel and commodity prices on

Private debt reduced to €56 bln in Q2

In Cyprus, private debt (households and non-financial corporations) declined to €56 bln in Q2 2021, marking a reduction of €500 mln from the previous quarter, according to financial data from the central

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