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Household assets at €59.7b, debt at €20b in 2022

Household financial assets amounted to €59.7b 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 Central Bank of Cyprus’ quarterly financial accounts for the fourth quarter of 2022, household debt in the end of 2022 amounted to €20b, 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%.

Non-Financial corporations’ assets in end-2022 reached €68.3b, 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 €38.6b 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%.

Insurance companies’ assets amounted to €4.5b, 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 €7.1b 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 €4b 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.

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