Fewer Cypriots at risk of poverty

Cypriots are at a lower risk of falling into poverty or social exclusion than their fellow Europeans, with the rate dropping to 17.3% in 2021, compared to the EU’s average of 21.7%.

On the occasion of the International Day for the Eradication of Poverty, the Statistical Service published an Infographic on “Poverty or Social Exclusion 2021”.

In Cyprus, households whose disposable income was below the €10,011 threshold, severely materially and socially deprived, or with very low work intensity reached 17.3% from 17.6% in 2020.

The poverty threshold is €10,011 per person and €21,024 per household with two children.

This means that, in 2021, some 2,000 people climbed out of the pool of 156,000 at risk of falling into poverty 2020.

Cyprus is among the ten EU countries with the lowest percentage of people at risk of poverty or social exclusion.

It was the eighth lowest poverty risk rate, sharing the spot with Denmark and Austria.

The EU country with the lowest rate is the Czech Republic, with 10.7%.

The country with the highest rate is Romania, with 34.4%, followed by Bulgaria and Greece, with 31.7% and 28.3%, respectively.

According to CyStat, women in Cyprus are at greater risk of falling into poverty (18.7%) than men (15.8%).

People over 65 run the highest risk at 20%, followed by children up to 18 at 19.2%.

By activity, the unemployed have the highest rate with 51.6%, followed by pensioners at 20.5% and 8.4% of employed people risk falling into poverty.

CyStat noted that 22.1% of Cypriot households would run the risk of falling into poverty if not for state benefits. After social benefits, a lower 13.8% are still at risk of social exclusion.

For households without children, it is 19.5% before welfare benefits and 15.5% afterwards.

For households with children, the poverty risk rises to 24.1% before social benefits but drops to 12.6% with welfare.