Household financial liabilities in Q2 totalled HRK 154 billion, 1.1% up from the previous quarter.
These trends resulted in an increase in the net financial value of households to HRK 410 billion or 2.5% more than at the end of the previous quarter, 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 financial assets
At the end of June 2021 the financial assets of the national economy totalled HRK 2,633 billion, a quarterly increase of 36.3 billion and a year-on-year increase of HRK 157.3 billion.
At the same time, financial liabilities totalled 2,810 billion kuna, a quarterly increase of HRK 30 billion and HRK 142.5 billion more year-on-year.
Compared to GDP, the financial assets of the national economy at the end of Q2 2021 accounted for 665% of annual 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% of annual GDP.
This 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, with a simultaneously stronger growth of quarterly GDP, which put an end to unfavourable GDP trends that had started in Q2 2020, the HNB said.