After the measures announced yesterday by the government to go in support of the middle class, which include the delivery of soft loans, the postponement of mortgage loans, the increase in rental subsidies and the expansion of the Credit with State Guarantee (CAE), the figures of National Accounts released this Monday by the Central Bank ratified that Chilean households face the crisis with record levels of indebtedness.
According to the report, Total household debt, calculated as a percentage of disposable income, remained at all-time highs and rose to 75.4%.
The issuing institute specified that said indicator should not be interpreted as financial burden or payments made for debt.
The figure represented an increase of 0.5 percentage points over that recorded at the end of the previous quarter, equivalent to 50.3% of GDP, and was explained by the increase in mortgage bank loans, the Central Bank explained.
Regarding its balance sheet, households registered a deterioration in their net financial wealth, measured as a percentage of disposable income, due to the lower stock of pension funds, in accordance with the negative performance of local and external stock markets in the period.
Already in your Financial Stability Report, using household debt as a percentage of GDP as an indicator, the Central Bank had warned about the record level of indebtedness of Chileans, in a scenario in which the main risk is worsening labor market conditions.
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