Based on the Quarterly Financial Accounts for the first quarter of 2022, household debt stood at €20.2 billion at the end of March 2022 with the relative debt ratio standing at 84% of Gross Domestic Product (GDP), showing a slight decrease in comparison to the previous quarter due to the increase in GDP.

Compared to December 2016, the household debt index shows a noticeable decrease, reaching 32%, reports the CBC.

The debt of non-financial companies at the end of March 2022 amounted to €36 billion with the debt ratio at 150% of GDP, marking a slight decrease compared to the previous quarter mainly due to the increase in GDP.

Compared to December 2016, the debt ratio of non-financial companies shows a large decrease, reaching 62%.

Besides, household assets in financial instruments amounted to €58.8 billion at the end of March 2022, of which 61% are cash, deposits and loans, 2% are securities, 20% are shares and 17% are other financial assets.

The corresponding assets of financial companies amounted to €66.6 billion with a ratio of 17% in cash and deposits, 4% in loans, 1% in securities, 49% in shares and 29% in other financial assets.

According to the CBC, the assets of insurance companies, in terms of purely financial instruments, amounted to €4.2 billion and are distributed as follows: 12% in cash and deposits, 3% in loans, 24% in securities, 48% in shares and 13% in other financial assets.

Accordingly, investment organizations have assets in financial instruments of €8.1 billion, invested 6% in cash and deposits, 10% in loans and securities, 81% in shares and 3% in other financial assets.

Investments in financial instruments of the pension funds amounted to €3.9 billion and concern mainly cash and deposits at a rate of 26%, 16% in loans, 3% in securities, 44% in shares and 12% in other financial items, the CBC says.

Source: Knews