The private debt level remains high in Cyprus even after dropping in the third quarter of 2016, to 272.6% of economic output, from 275.4% the previous quarter, the Central Bank of Cyprus said.
Overall debt for households and non-financial corporations dropped to 124.4% and 148.2% respectively at the end of September last year, from 130.3% and 151.5% in July, the Central Bank said in a statement on its website.
Still, the net financial position of households, which is the difference in the value of total financial assets and debt, rose in the third quarter to 114.5% of gross domestic product, from 112.9% in July.
The net financial position of non-financial corporations remained in negative territory in the third quarter of last year, rising from 215.4% to 203.2%, the central bank said.
Source: Cyprus Mail
