Coronavirus: 54 per cent see household income drop — survey

Half the people in a Bank of Cyprus poll said they had suffered a loss of income to some degree in the past five months, as Cyprus feels the full impact of the coronavirus crisis.

According to the survey, which included 720 respondents per month in August, September, October, November, and December, people saw their income drop or wiped out completely.

Twenty-six per cent said their income fell significantly while 22 per cent said it decreased somewhat. Two per cent said they lost all their income.

Forty-six per cent of those canvassed saw no change to their income during these months, while four per cent said they saw an improvement.

One per cent did not know or did not answer.

Lower middle income households appear to be the hardest hit with 58 per cent saying they either lost all their income, 2 per cent, or significantly decreased 30 per cent, or somewhat, 25 per cent.