Panayiotis Rougalas
In a recent economic survey conducted by "Kathimerini," the fifth wave of "Ktrends" highlights notable trends in economic, household, and market dynamics for October 2023. The survey indicates strengths in demand and businesses, yet unveils increasing pressures on pensioners, coupled with growing discontentment towards the government's economic policies and banks.
The assessment of the government's economic policies has witnessed a decline, with an overall negative rating of 64%, marking a significant increase from the previous quarter's 58%. Respondents expressing a negative view of the Christodoulides government's economic policies rose by 5 points to 29%. Meanwhile, positive evaluations decreased, with only 22% giving favorable ratings, down from the previous wave's 30%.
Collaborating with PwC Cyprus, the survey highlights Famagusta as the province with the harshest assessment of the government, recording an 80% negative rating—a significant deterioration from the previous wave's 64%. In contrast, Paphos emerges as the province with the highest satisfaction level, where 26% of respondents positively rated the government's economic policies. However, even in Paphos, satisfaction levels experienced a notable decline, dropping from 41% to 26%.
Among specific demographics, individuals with lower education levels exhibited a 26-point drop in positive ratings, reaching 21%, while dissatisfaction rose by the same margin to 79%. Notably, young people (18-24) displayed resilience in their assessment of government policy, with a 5-point drop in satisfaction to 28% and an 11-point drop in dissatisfaction to 45%.
The survey also sheds light on a slight deterioration in consumption patterns, influenced by fluctuations in interest rates and electricity costs. Despite a generalized decline in inflation, respondents showed a significant 9.2% decrease in the intention to spend on clothing.
Conducted by IMR in collaboration with the University of Nicosia, the "Ktrends" survey aims to provide insights into the Cypriot economy, with a sample of 800 participants aged 18 and over. The survey, comparing four periods, is intended to be a valuable economic tool for businesses and active citizens, offering estimates and expectations for the future.
[This article was translated from its Greek original and may not fully capture the nuances and tone of the original, it is also summarized]
