The richness of Spanish families grow 8.6% in full pandemic

The financial richness of Spanish families, which is measured by the difference between treasuring savings and debts they have, rose in full coreavirus pandemic

The richness of Spanish families grow 8.6% in full pandemic

The financial richness of Spanish families, which is measured by the difference between treasuring savings and debts they have, rose in full coreavirus pandemic up to 1.63 billion euros at first quarter, 8.6% More than a year earlier.

According to the financial accounts of the Spanish First Quarter Economy published on Monday by the Bank of Spain, in relation to GDP, net financial assets accounted for 147%, ratio that is 25.2 percentage points greater than one year earlier before Due also the decline of the economy.

The financial assets of household-shouts in cash, actions, deposits and values in rent, continued to surpass the two trillion euros at the end of the first quarter, specifically 2.388 billion, 5.4% more than a year earlier.

The Bank of Spain explains that this increase was the result of a net acquisition of financial assets of 82,900 million in the last year, which added a revaluation of the same of 39,100 million, which focused especially on the first quarter of 2021 .

The bulk of the financial assets of Spanish households was at the close of the first quarter in cash and deposits, which added 42% of the total, followed by participations in capital (24%), insurance and pension funds (16%) and participations in investment funds (15%).

The participations in investment funds was the component that increased its weight in the financial assets of households, 1.9 percentage points, while the weight of the participations in the capital was the one that fell the most, 2.9 percentage points.

The consolidated debt of non-financial societies and families reached 1,661 billion euros at the end of the first quarter, 14.3% of GDP, and 3.1% more than a year earlier.

The debt of non-financial societies increased from 906,000 to 963,000 million, which represents 86.6% of GDP, although it is included in debt between companies, the ratio rises to 109.7%; In the case of households, however, debt decreased from 705,000 million to 698,000 million, 62.8% of GDP.

However, up to the first quarter of 2021 and in accumulated terms of the last four quarters, the net financial operations of families and companies presented a surplus of 10,700 million euros, equivalent to 1% of GDP, compared to 2.6% Observed a year earlier.

Date Of Update: 25 July 2021, 07:12

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