this financial wealth of Spanish familiesmeasured by the difference between the savings they have accumulated and the debts they have, down 1% in just three months Due to the rise in inflation, it reached EUR 1.89 trillion at the end of June, but grew by 0.3% on an annual basis.
According to the Financial Accounts of the Spanish economy published this Monday by Bank of SpainRegarding GDP, net financial assets represented 149.1%, 14 percentage points lower than the previous year as the economy grew more heavily than household wealth.
Household financial assets – cash, equities, deposits and rental securities – fell 0.2% in the quarter to €2.67 trillion at the end of June. In the inter-year rate, it increased by 0.70%.
The Bank of Spain explains that this increase is the result of net financial asset acquisitions of 63,600 million last year, which was concentrated in deposits and, to a lesser extent, equity participations, partially offset by a negative revaluation of 44.9. billion.
this The majority of Spanish households’ financial assets remained in cash and deposits.capital holdings (29%), mutual funds (14%) and insurance and pension funds (13%) accounted for 40% of the total.
Cash and deposits were the item that increased the most weight by 1.7 points in household financial assets compared to the previous year, while the weight of insurance and pension funds was the component that decreased the most with 1.6 points.
Debt of families and companies decreased
Consolidated debt of families and non-financial companies reached 1.679 billion euros at the end of the second quarter, 0.7% less than a year ago, although it is 4.2% more than before the pandemic. In terms of GDP, the rate fell to 132.2% compared to 146.1% a year earlier.
this Debt of non-financial corporations has been reduced From 979,100 in June 2021 to 961,200 million a year later, which represents 75.7% of GDP, but if debt between companies is included, the ratio rises to 98.5%.
But when it comes to householdsDebt increased from 712,000 million in June 2021 to 717,600 million. 56.5% of GDP at the end of the second quarter of 2022, but lower than 61.5% a year ago, in line with pre-pandemic levels.