The total financial assets of Croatian households reached HRK 576 billion in the third quarter of 2021, up by 2.2% from the previous quarter, while their liabilities increased by 1.2% to HRK 156 billion, the Croatian National Bank (HNB) said on Tuesday.

As a result, the financial net worth of the household sector increased to HRK 420 billion, up by 2.6% from the previous quarter, continuing the trend of a gradual and steady increase in the financial net worth of this sector.

At the same time, the financial assets of the Croatian economy stood at HRK 2.718 billion, up by HRK 89.1 billion in the quarter concerned and by HRK 211.9 billion in the period of one year.

The financial liabilities of the Croatian economy reached HRK 2.864 billion, up by HRK 53.3 billion in the quarter concerned and by HRK 182.4 billion in the period of one year.

In terms of GDP, the financial assets of the Croatian economy amounted to 650% of the annual GDP, down by 14.4 percentage points in the quarter concerned and down by 1.0 percentage point in the period of one year.

The financial liabilities of the Croatian economy decreased by 25.4 percentage points in the quarter concerned and by 11.7 percentage points in the period of one year, accounting for 685% of the annual GDP at the end of the third quarter of 2021.

These quarterly developments continue the trend of decrease of both assets and liabilities of the Croatian economy in terms of GDP, which started in the previous quarter due to a slower increase in their value compared to the growth of quarterly GDP.

The total financial assets of non-financial corporations stood at HRK 767 billion at the end of the third quarter of 2021, growing by 2.1% from the end of the previous quarter. The financial liabilities of non-financial corporations amounted to HRK 1.151 billion or 0.2% less than at the end of the previous quarter, the central bank said.

(€1 = HRK 7.5)