State debt up, private sector debt down

Finances across the private sector continue to improve, while the Government’s coffers continue to deteriorate, according to the latest Quarterly Financial Accounts from the Central Bank.

Total private sector debt fell by 5.2% to 310.1% of GDP during the third quarter of last year — making it the largest decline in debt since the third quarter of 2010.

Both households and non-financial corporates reduced their levels of indebtedness.