Compared with December 2016 when such debt accounted for 119% of GDP there was a significant decrease of 22%.

Data showed that the financial assets of households in financial instruments stood at €46.2 billion in March, of which 61% were in cash, deposits and loans, 2% in debt securities, 21% in shares and 16% in other financial instruments.

The financial assets of non-financial corporations rose to €60.5 billion, while their debt stood at €40.7 billion, accounting for 194% of GDP, remaining unchanged from the previous quarter.

However, it saw a 25% decrease compared with December 2016 when it accounted for 219% of GDP.

Insurance corporations had financial assets of €3.8 billion, whereas investment funds and pension funds had financial assets of €4.9 billion and €3.4 billion respectively.

Source: Financial Mirror