In the second quarter of this year, the net financial value of the national economy saw a downward trend, decreasing from -110.7 billion lei at the end of 2022 to -114.1 billion lei as of March 31, 2023. The number increased slightly to 113.05 billion lei as of June 30. The national economy still remains a net debtor to “the rest of the world”, the National Bank reported.
The household sector continues to be the net creditor of the national economy, and the non-financial commercial companies sector, the financial companies sector and the public administration sector are, as previously, in the position of net debtors.
The household sector registered a net financial value of 223.3 billion lei, increasing by 5.8% compared to 211.1 billion lei in the first quarter of 2023. This sector had the most significant impact on the change in the net financial value of the national economy through its positive contribution of +10.7 percentage points.
The sector of non-financial commercial companies is the sector that sees the largest negative net financial value (debtors), at the end of the second quarter of 2023 this constituted -276.4 billion lei. The contribution of this sector to the net financial value was -9.7 percentage points.
The net financial values of the public administration and financial companies sectors are also negative, respectively, these sectors are net debtors. The negative net financial value of the public administration constituted -40.2 billion lei, and the negative net financial value of financial companies increased to -19.7 billion lei.
The ratio between the net financial value of the national economy and the gross domestic product (GDP) in the second quarter of 2023 decreased compared to the end of the first quarter of 2023 and the end of 2022 by 1.1 percentage point to -39.3%.
The sector of financial companies at the end of the second quarter of 2023 held financial assets totaling 291.2 billion lei, consisting mainly of purchased debt securities (38.2%), granted loans (27.6%) and cash and deposits (26.4%). Liabilities totaled 310.8 billion lei, with cash and attracted deposits accounting for 62.6%.
