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Croatia

Croatia: Household financial assets reach € 75 billion in Q2 2021

The financial assets of the Croatian economy stood at HRK 2.633 billion at the end of the second quarter of 2021 (Figure 1), increasing by HRK 36.3 billion in the quarter and HRK 157.3 billion in the one-year period. The financial liabilities of the Croatian economy amounted to HRK 2.810 billion, with HRK 30.0 billion in the quarter in question and HRK 142.5 billion in the one-year period. In terms of GDP, the financial assets of the Croatian economy amounted to 665% of annual GDP at the end of the second quarter of 2021, down by 20.9 percentage points in the quarter in question and by 45.2 percentage points in increase over a period of one year. vit. The financial liabilities of the Croatian economy decreased by 24.6 percentage points in the quarter in question and increased by 41.9 percentage points in the one-year period, accounting for 710% of annual GDP at the end of the second quarter of 2021.

As stated in the communiqué of the Croatian National Bank, this has put an end to the rapid growth of stocks of assets and liabilities of the Croatian economy in terms of GDP, despite the continuous increase in their nominal value, but with stronger growth of Quarterly GDP. , reversing the unfavorable GDP trends that had started in the second quarter of 2020.

Total financial assets and financial liabilities of households were HRK 564 billion and HRK 154 billion respectively at the end of the second quarter of 2021 (Figure 2), which is an increase of 2.1% and 1.1% respectively from the end of the previous quarter . As a result, the net financial value of the household sector reached HRK 410 billion or 2.5% more than at the end of the previous quarter, following the trend of a gradual, albeit steady increase in the net financial value of this sector.

Total non-financial corporate financial assets were HRK 750 billion at the end of the second quarter of 2021 (Figure 3), up 1.2% from the end of the previous quarter. The financial liabilities of nonfinancial corporations amounted to HRK 1.151 billion or 0.9% more than at the end of the previous quarter. In line with these developments, the net financial value of the non-financial corporate sector fell to HRK -401 billion, down 0.2% from the end of the previous quarter.

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