For 10 years, households' financial assets in Bulgaria have risen threefold
The total financial assets of households and non-governmental organizations in the European Union have reached € 33 850 billion in 2016, Eurostat data show. They include mainly insurance, pensions and other similar instruments (38.8% of all), currency and deposits (30.4%), shares and units in investment funds (25.2%). Liabilities amount to 10,113 billion euros in 2016, with loans of 90% of the pen, while most of them are mortgages.
Household financial assets at the end of 2016 are more than before the 2008 financial crisis. In recent years, liabilities remained at a relatively stable level of about 70% of the European Union's gross domestic product. The crisis reflects much more clearly on the assets. From 213% of GDP in 2006, they are down to 182% in 2008, rising to 205% in 2009, and 230% in 2016 - more than before the crisis.
The highest ratio is in the Netherlands (332.5%) and the UK (329.3%), and in Belgium (314.9%). On the other hand, households in Cyprus (141.5%), Denmark (133.2%) and the Netherlands (119.8%) have the largest debit side in relation to GDP.
Where is Bulgaria? Households and NGOs in Bulgaria have financial assets, which represent 139.9% of the gross domestic product and liabilities of 29.1%.
In absolute terms in 2006, they were € 22 billion, while in 2016 reached € 66 billion - or three times more. At the same time, the liabilities increase from € 6 billion in 2006 to € 14 billion in 2016.
Instruments accounted for € 24.6 billion in deposits and € 28.3 billion in equity and other equity-traded instruments for households and non-governmental organizations.