The net financial assets of people in Belgium fell by €23.6 billion during the third quarter (the period between July and September), the National Bank said on Thursday.
This downward trend has been constant in the first and second quarters which saw Belgians around the world €34 billion and €53 billion poorer, respectively.
The total loss for the first nine months is thus over €110 billion. Falling stock market prices and rising interest rates that make financial assets worth less are at the root.
Individuals also invested less this year compared to 2021. Insurance products saw a decline in the third quarter by more than €10 billion, mutual funds by €5.6 billion and listed equities by €4 billion. Savings and deposit accounts also showed a decline.
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On the other hand, the financial liabilities or debts of Belgians rose by €3.3 billion in the third quarter, mainly due to an increase in home loans.
All Belgians together owned €1,119.9 billion in financial assets on 30 September (excluding real estate). Total debts stood at €336.7 billion.
