Household financial assets amounted to pound 59.7 billion in December 2022 of which 62% in currency, deposits and loans 2% in debt securities, 19% in stocks and 17% in other financial instruments. According to the quarterly financial accounts for the fourth quarter of 2022 published by the Central Bank of Cyprus, on Tuesday, household debt in the end of 2022 amounted to pound 20 billion, corresponding to 74% of Cyprus' GDP, marking a small reduction compared with the previous quarter, mainly due to the rise in GDP. Compared with December 2016, household debt ratio marks a sizeable reduction reaching 42%, the CBC said. Non-Financial corporations' assets in end-2022 reached pound 68.3 billion, of which 18% in currency and deposits, 4% in loans 03% in bonds, 49% in shares and 29% in other financial instruments. The sector's debt in the end of December 2022 amounted to pound 38.6 billion or 143% of GDP, marking a reduction of 7% compared with the previous quarter, driven by the rise in GDP. In comparison with December 2016, the corporate debt to GDP ratio declined by 68%. According to the CBC, Insurance companies' assets amounted to pound 4.5 billion, of which 9% in currency and deposits, 3% in loans 25% in debt securities, 45% in shares and 17% in other financial instruments. Investment Funds assets in financial instruments amounted to pound 7.1 billion of which 5% were in currency and deposits, 9% in loans and debt securities, 83% in shares and 2% in other financial instruments. Assets held by pension funds amounted to pound 4 billion in the end of December 2022, mainly in currency and deposits with a share of 23%, 15% in loans, 4% in debt securities, 46% in shares and 13% in other financial instruments, the CBC added.
Source: Cyprus News Agency
