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A quarter of Cypriots are debtors

A quarter of Cypriots are debtors

31 May 2018
Tags: Cyprus's economy, debt, Statistics

According to sociological data provided by Eurostat, more than 26% of Cypriots had any debts in 2016 year.

In 2016, more than a quarter of the Cypriots, namely 26,6%, were in arrears on mortgages, rents or other obligations, such as utility bills or installment payments. And this is with an average rate in Europe slightly more than 10%, according to The Cyprus Mail.

Compared to the 2008 year in Cyprus, this figure has more than doubled and increased from 3,4% to 8,6%. In general, in 2016, every tenth resident in the EU had outstanding debts and deferred payments. At the same time, families with children or elderly parents face this problem twice as often as those who do not depend on relatives.

Almost half (47,9%) of the population in Greece were in arrears in mortgages, leases, utilities or paid employment in 2016. Next comes Bulgaria with a rate of 34,2%, and after Cyprus and Croatia.

Natalia Kudlay
RuCy
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