In July 2019 non-financial sector indebtedness stood at €728.7 billion, of which €327.8 billion referred to the public sector and €400.8 billion to the private sector. 

Compared to June 2019, non-financial sector indebtedness was down by €1.3 billion. This was due to a €1.0 billion decrease in public sector indebtedness and a €0.3 billion decrease in private sector indebtedness (Chart 1).

The decrease in public sector indebtedness mostly stemmed from a decline in financing from general government and in external financing, which was partly offset by an increase in financing from the financial sector and from corporations (Chart 2). 

As regards private sector indebtedness, there was a €0.7 billion reduction in corporations’ indebtedness to the financial sector, partly offset by a €0.5 billion rise in external financing to corporations. Financing from the financial sector to private individuals decreased by €0.1 billion.