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The debt owed by households and businesses recorded a small drop on a quarter-to quarter basis in the second quarter of this year, data released by the Central Bank of Cyprus show.

According to a summary of the data published by the Central Bank the financial assets of households were at the end of June 2018 €45.5 billion, 64% of which was cash and deposits, 2% securities, 20% shares and 14% other financial assets.

Households` debt stood at the of last June at €20.2 billion, or 100.2% of GDP, recording a small drop in relation to the previous quarter, the Central Bank says.

The drop is more significant close to 19% when compared to December 2016 when the debt of households was equivalent to 119% of GDP.

At the same time, non financial companies` assets reached €58.8 billion, 16% of which accounts for cash and deposits, 7% loans, 1% securities, 49% shares and 27% of which concerns other financial assets.

The debt of non financial companies stood at the end of June 2018 at €39.5 billion or 196.4% of GDP, also recording a small drop in relation to the previous quarter. 

Compared to December 2016, when the debt was at 219% of GDP, the drop is greater and reaches 23%, the Central Bank says.

According to the data insurance companies financial assets were recorded at the end of June at €3.9 billion, 12% of which in cash and deposits, 2% in loans, 25% in securities, 41% in shares and 20% in other financial assets. 

Investment companies` assets were at the end of June €4.0 billion, 3% was invested in cash and deposits, 8%  in loans and securities, 85% in shares and 4% in other financial assets.

Retirement funds investments were €3.6 billion of which 38% was invested in cash and deposits, 16% in loans, 2% in securities, 35%  in shares and 9% in other financial assets.

Source: Stockwatch