“I want to express my satisfaction because according to official EUROSTAT statistics, Cyprus has recorded the largest drop in unemployment of all European Union countries between July 2020 and July 2021, which now amounts to 5.2 percent of the economically active population compared with 7.9% in the corresponding period last year.

Specifically, the reduction of the unemployed from 35,000 to 23,000 corresponds to a decrease of 34.3%, which is the largest drop at European level and three times the average drop in unemployment at the European Union level, which was 9.4%.

At the same time, the risk of poverty or social exclusion, continuing its downward trend in recent years, has reached its lowest level since 2007.

These official statistics show the success of the Government’s policies, especially if one considers the economic crisis as a result of the pandemic. The Government will continue to pursue economic policy based on the well-understood interest of all citizens and we call on all of them to participate in the whole effort.”

Further statistics from the EUROSTAT report on Cyprus from July 2021: Net household income increased, continuing an uninterrupted growth trend with a 14.7% total increase from 2015 to 2020 in net household income,

The poverty risk rate decreased, continuing a downward trend from 2015 to 2020 with a total reduction of 11.7% (1.9 percentage points or to 14.3% from from 16.2%),

Risk of poverty or social exclusion decreased from 2015 to 2020 with a total reduction of 26.3% (7.6 percentage points or to 21.3% from from 28.9%).

The EU unemployment rate was 6.9% in July 2021, down from 7.1% in June 2021 and from 7.6% in July 2020.

Inflation in Cyprus was at 2.7% in July 2021; it was at 2.5% for the EU.

Source: Cyprus Mail