Households in Cyprus owe €20.1 bln
Household debt in Cyprus stood at 20.1 billion euros at the end of June 2022, with the relevant debt ratio standing at 81% of gross domestic product, a slight decrease compared to the previous quarter due to GDP growth.
In comparison to December 2016, the household debt ratio had decreased significantly, to the tune of 35%.
According to the Central Bank of Cyprus’ (CBC) publication Quarterly Financial Accounts for the reference quarter ending June 2022, household financial assets totaled €58.5 billion at the end of June 2022, with 62% being in cash, deposits and loans, 2% being in debt securities, 19% in shares, and 17% in other financial assets.
Non-financial companies’ corresponding assets totaled €66 billion, with 17% in cash and deposits, 4% in loans, 1% in debt securities, 47% in shares, and 31% in other financial assets.
The sector’s debt at the end of June 2022 was €40.1 billion, with a debt ratio of 161% of gross domestic product, a slight decrease from the previous quarter due to GDP growth. In comparison to December 2016, the debt ratio of non-financial companies has decreased by 51%, according to the CBC.
