Statement by Evanthia Savva, Head of AKEL’s Social Policy Sector on the Income and Living Wage Survey of Households in Cyprus

 

2 November 2023, AKEL C.C. Press Office, Nicosia

The Statistical Service’s Survey on Household Income and Living Expenses in Cyprus for 2022 reveals, inter alia, the following data:

• 24,000 of our fellow citizens live in conditions of severe material and social deprivation,
• 4 out of 10 of our fellow citizens face serious financial difficulties in covering unexpected, but also necessary expenses,
• 1 in 5 of our fellow citizens are unable to cover the cost of heating, while an almost similar proportion has difficulty in paying their rent, instalments and fixed bills on time.

Equally importantly, the Survey reveals that Cyprus has one of the lowest savings rates across the Eurozone, a fact that proves households are now forced to make use of their savings so they can meet the increased cost of living.

The Statistical Office’s Survey illustrates the serious difficulties a large section of Cypriot society faces in meeting essential needs and surviving with dignity.

The data included in the Survey confirm the need for the introduction of a dignified minimum wage and the need to readjust the level of the Minimum Guaranteed Income.

The government must proceed to the reshaping of social policy, which shouldn’t be limited to the provision of a benefit, but to the implementation of policies that should protect society in a meaningful way, supporting those in need.