Today: 24 September 2018
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The number of potentially poor people is growing in Cyprus

The number of potentially poor people is growing in Cyprus

Tags: Cyprus, Economy, Statistics, Salary, EU

According to Eurostat, the risk of poverty in Cyprus in the period from 2008 year to 2016 year increased by about 4,5%. If 9 years ago the number of people close to the poverty line was 23,3%, then at 2016 year their number increased to 27,7%.

The risk of poverty in Cyprus is growing steadily. Over the past 9 years, the average revenue has decreased from 16 000 euro to 14 000 euro. In this case, incomplete families (one parent) began to receive not 9 600 euros, as in 2008 year, but 8 400 euros. Full families with two children also lost in income: with 20 200 the euro index fell to 17 600 euro.

The number of people who are at risk of poverty, even with social benefits, has increased from 15,9% (2008 year) to 16,1% (2016 year). Eurostat also calculated how many people in Cyprus suffered major material losses: with 9,1%, the indicator increased to 13,6% (for the same time period).

The poverty risk group also increased due to people who live in families with low employment. Apart from retirees, such people became more than almost 6%.

When calculating, it was taken into account that the income per person is distributed in the following ratio: 1 the average income for an adult, 0,5 for a teenager from 14 years and 0,3 for a child up to 14 years.

In addition, Eurostat has identified the parameters by which it is determined whether the family is at risk when approaching the poverty line. This is an impossibility:

  • in time to pay for housing (rent, mortgage, etc.);
  • daily eat meat, fish or other sources of protein;
  • cope with unforeseen expenses;
  • to buy a car;
  • once a year to go on a week off from home;
  • buy a large home appliances and gadgets (TV, refrigerator, laptop, smartphone, etc.).

For comparison, in Cyprus, the number of people at risk is 27,7% for 2016 year. In the European Union this indicator is slightly lower - 23,4%, and in Bulgaria (40,4%), Romania (38,8%) and Greece (35,6%), which is much higher.

Irina Zhmaeva
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