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4 Sep 2019
Number of people at risk of poverty falls

Economic development in Cyprus is slowly but surely fostering increased social cohesion, Finance Minister Harris Georgiades said in a written statement on Tuesday, after the results of an EU-wide survey on income and living conditions (Silc) showed figures he claims are at pre-crisis levels.

The survey results released by Cystat on Tuesday showed that in 2017, a total of 205,900 people (23.9 per cent) living in the government-controlled areas were at risk of poverty or social exclusion, an improvement compared to previous years.

Households at risk of poverty or social exclusion are those whose disposable income is below the at-risk-of-poverty threshold (Arop), or are living in severely materially-deprived households (SMD).

In line with an improving trend over the previous years, the figure was lower than that of 2016 (25.2 per cent) and 2015 (28.9 per cent).

This improvement was seen for both men and women, at 23.1 per cent and 24.7 per cent respectively, though women throughout the years were more at risk than men.

“All indicators recording either income inequality or poverty risk and social exclusion have retuned to pre-crisis levels and are close or even in a better position than the EU average,” Georgiades said.

Stressing the need for further improvement, Georgiades said that the goal of government policy is the enhancement of social cohesion in light of which the government strived for full employment and for measures that ensure the profits from economic development reach the bulk of the population.

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