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Financial flows and balance sheets of households and non-financial corporations in 2015

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  • Víctor García-Vaquero
  • Maristela Mulino

Abstract

This article summarises the key aspects of financial flows and balance sheets of Spanish households and non-financial corporations in 2015. Last year, the financial position of both sectors strengthened. Their gross financial wealth increased, driven mainly by investment in financial assets (especially in investment funds and, in the case of firms, also in shares and other equity), while their debt ratios continued to decline. In particular, the interest-bearing debt of households fell to 106% of their gross disposable income, and that of firms to 86% of GDP, six and seven percentage points (pp), respectively, below the 2014 figures, and 29 pp and 32 pp below the highs recorded in mid-2008 (households) and in 2010 Q2 (firms).

Suggested Citation

  • Víctor García-Vaquero & Maristela Mulino, 2016. "Financial flows and balance sheets of households and non-financial corporations in 2015," Economic Bulletin, Banco de España, issue JUN, pages 33-39, June.
    • Handle: RePEc:bde:journl:y:2016:i:6:n:3
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