The Bank of Cyprus has released the results of its own study of how the income of the country’s residents has changed during the COVID-19 pandemic. Every month from August to December last year, the bank polled its customers – and found that more than half of the respondents felt the negative economic effects of the “new order”.

26% of respondents said that the coronavirus significantly reduced their income, 22% – that the proceeds of the household budget decreased, but not very significantly, and 2% complained that they were almost without earnings.
46% of respondents reported that their household income remained the same, while 4% actually improved.

The bank notes that the greatest losses were recorded in households with lower-middle income – about 58% of them showed a precarious financial situation.