The consolidated debt ratio of companies and households moderated to 111.6%, a percentage not observed since March 2002
MADRID, 10 Abr. (EUROPA PRESS) –
The net financial wealth of Spanish families and non-profit institutions serving households (Isflsh) stood at 2.09 trillion euros at the end of 2023, which represents an increase of 9.3% in the interannual rate. , according to the financial accounts published by the Bank of Spain this Wednesday, which reflect a moderation in household debt to 46.9% of GDP, a percentage not observed since September 2001.
The figure for net financial assets of families at the end of the fourth quarter is equivalent to 142.8% of GDP, a ratio that was nine tenths higher than that of a year earlier.
The total balance of financial assets (cash, shares, deposits and rental securities) of households and Isflsh reached 2.83 trillion euros in 2023, 6% more than a year before.
This increase reflected a revaluation of 119.8 billion euros and a net acquisition of financial assets of 39.3 billion euros in the year.
By financial instruments, the revaluation of assets was largely concentrated in shares in capital and investment funds. In the net acquisition of assets, the investment in shares in investment funds and debt securities stood out, which were partially offset by the reduction of the cash instrument and deposits.
In relation to GDP, the financial assets of households and Isflsh represented 193.7% in the fourth quarter of 2023, 4.8 percentage points less than a year before, a decrease that is explained exclusively by the increase in nominal GDP.
For its part, the consolidated debt of companies and households and Isflsh reached 1.63 trillion euros in the fourth quarter of fiscal year 2023, 1.8% less compared to the year-on-year comparison. In terms of GDP, the ratio indicates a “significant” moderation of debt to 111.6%, a percentage not observed since March 2002.
Only the consolidated debt of non-financial companies decreased from 958.4 billion euros in the fourth quarter of 2022 to 946.6 billion in December 2023. In terms of GDP, the ratio decreased from 71.2% to 64.7 % in 2023, a percentage not observed since September 2002 (if inter-company debt were included, the ratio in December 2023 would be 81.7%, compared to 92.2% a year earlier).
For its part, household and Isflsh debt fell slightly from 703.6 billion in December 2022 to 685.4 billion in the fourth quarter of 2023. The ratio to GDP decreased to 46.9% in 2023, from 52.3% from a year before, reaching a percentage not observed since September 2001.
