Ηouseholds debt ratio fell to 69% of GDP, while households assets in financial instruments stood at €57 billion at the end of June 2023, according to data published by the Central Bank of Cyprus (CBC) on Tuesday in the "Quarterly Financial Accounts" edition for the quarter ending June 2023.

Of the €57 billion, 58% is currency, deposits and loans, 2% is securities, 21% shares and 19% other financial instruments.

According to the CBC, household debt at the end of June 2023 amounted to 20 billion euro with the relative debt index at 69% of the Gross Domestic Product (GDP), showing a small decrease compared to the previous quarter mainly due to the increase of GDP.

Compared to December 2016, the household debt index shows a noticeable decrease, reaching 46%.

The corresponding assets of non-financial corporations amounted to 66 billion euros with a ratio of 19% in currency and deposits, 4% in loans, 1% in securities, 45% in shares and 31% in other financial instruments.

The debt of non-financial corporations at the end of June 2023 amounted to €40.4 billion, with the debt ratio standing at 140% of GDP, down slightly from the previous quarter mainly due to GDP growth.

Compared to December 2016, the debt index of non-financial companies shows a noticeable decrease, reaching 70%.

Insurance corporations, investment funds and pension funds

In addition, according to the data published by the CBC, the assets of insurance companies, in terms of purely financial instruments, amounted to 4.9 billion euros and are distributed 9% in currency and deposits, 2% in loans, 27% in securities, 42% in shares and 20% in other financial instruments.

Accordingly, investment funds have assets in financial instruments of €8 billion invested 4% in currency and deposits, 11% in loans and securities, 83% in shares and 2% in other financial instruments.

Investments in financial instruments of the pension funds amounted to 4 billion euros and mainly concern currency and deposits at a rate of 19%, 15% in loans, 6% in securities, 49% in shares and 10% in other financial instruments.