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Cyprus closed 2024 with a negative net financial position of €29.27 billion, according to new data from the Cyprus Statistical Service (CyStat) detailing macroeconomic indicators by institutional sector.
The country’s total financial assets reached €795.27 billion at year’s end, with equity and shares accounting for just over half (50.3%), followed by cash and deposits (17.2%) and loans (18.8%). Total liabilities were higher, at €824.54 billion, led by equity and shares (50.8%), loans (25.0%), and cash and deposits (12.1%).
Household and corporate finances
Household financial assets totaled €61.34 billion, primarily in cash and deposits (53%) and shares (24.8%). Household loans reached €19.87 billion, equivalent to 57.2% of gross domestic product (GDP).
Non-financial corporations reported €70.48 billion in total assets, with shares representing 38.7% and cash and deposits 20.6%. Borrowing in this sector amounted to €41.58 billion, pushing the debt-to-GDP ratio to 119.6%.
These figures are part of the Annual Financial Accounts (AFA), which record financial assets, liabilities, and related transactions between Cypriot residents and non-residents.
Disposable income and investment trends
Preliminary data show a notable improvement in household disposable income. Combined gross disposable income for households and non-profit institutions serving households (NPISH) rose 8.4% in 2024, climbing to €21.02 billion from €19.39 billion the previous year.
Final consumption expenditure increased by 5.8%, reaching €19.92 billion, while the household and NPISH savings rate slipped slightly to 5.6%, down from 5.9% in 2023.
In contrast, investment activity weakened in the business sector. The investment rate of non-financial corporations fell to 16.0% in 2024 from 18.3% a year earlier, indicating a more cautious approach to capital spending.
