Follow us: Facebook Twitter RSS
Menu Search
Breaking news
Home Economy For 10 years, households' financial assets in Bulgaria have risen threefold


Add comment

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.

Comments (0)

No comments.

Add comment