At the end of Q2 2021 total household financial assets in Croatia amounted to 564bn kuna (€75bn), or 2.1 percent up from Q1 2021, Croatia's central bank said on Friday.

On the other hand, household financial liabilities in Q2 totaled 154bn kuna (€20bn), or 1.1 percent up from the previous quarter.

This means that the net financial value of households increased 2.5 percent quarter-on-quarter, to 410bn kuna (€54bn), which “continued a trend of gradual yet steady increase in the net financial value of the sector,” the central bank said.

National economy’s financial liabilities higher than its financial assets

At the end of June 2021 the financial assets of the national economy totaled 2,633bn kuna (€350bn), a quarter-on-quarter increase of 36.3bn kuna (€4.8bn), and a year-on-year increase of 157.3bn kuna (€21bn). At the same time, financial liabilities totaled 2,810bn kuna (€373bn), a quarterly increase of 30bn kuna (€4bn), and 142.5bn kuna (€19bn) more year-on-year.

Compared to Croatia’s GDP, the financial assets of the national economy at the end of Q2 2021 accounted for 665 percent of GDP, a quarterly drop of 20.9 percentage points and a year-on-year increase of 45.2 pp. At the same time, the financial liabilities of the national economy saw a quarterly drop of 24.6 pp and a year-on-year increase of 41.9 pp, accounting at the end of Q2 for 710 percent of GDP.

“This has put an end to the fast growth of assets and liabilities of the national economy in relation to GDP despite the continuation of growth of their nominal value,” the central bank said.

(€1 = 7.52 kuna)