Cyprus recorded a negative annual net financial position of -€29.12 billion in 2023, according to a report released on Tuesday by the state’s statistical service.
As of December 31, 2023, the total assets in financial instruments for the economy reached €869 million, of which 51.5 per cent comprised equity securities and shares, 16.1 per cent consisted of cash and deposits, and 20.4 per cent was attributed to loans.
Conversely, total liabilities in financial instruments amounted to €898.12 million, with 51.3 per cent related to equity securities and shares, 26.2 per cent linked to loans, and 11.5 per cent concerning cash and deposits.
The financial assets of households totalled €57.45 billion by the end of December 2023, with 55.4 per cent held in cash, 0.9 per cent in loans, 3.2 per cent in bonds, and 22.9 per cent in shares.
Household loans reached €20.07 billion, with the relevant debt ratio standing at 64.0 per cent of the Gross Domestic Product (GDP).
In the non-financial corporations sector, total assets amounted to €71.95 billion, with a composition of 17.4 per cent in cash and deposits, 6.9 per cent in loans, 0.5 per cent in bonds, 42.6 per cent in shares, and 32.0 per cent in other financial instruments.
Finally, loans in this sector reached €42.09 billion, resulting in a debt ratio of 134.3 per cent of GDP.
