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The share Of The Population At Risk Of Poverty And Social Exclusion is Steady At 16.7%

by THEFUTURE.TEAM

June 12, 2024

The share of the population at risk of poverty or social exclusion in Cyprus, according to the EU AROPE indicator, remained steady at 16.7% in 2023 with the percentage of the population at risk of poverty unchanged at 13.9%, the Statistical Service of Cyprus (Cystat) has said.

According to the results of the Survey on Income and Living Conditions 2023, with income reference period the year 2022, 16.7% of the population or 153,000 persons were at risk of poverty or social exclusion (AROPE indicator, the main indicator to monitor the EU 2030 target on poverty and social exclusion).

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“The indicator for 2023 remained at the same level compared to the previous year when it was also at 16,7%. Therefore, the indicator remained unchanged in 2023, after the continuous downward trend of the recent years,” Cystat added.

Even though the improvement in recent years has been reflected in both women and men, still throughout the years, women are maintaining their unfavorable position in respect to men.

In 2023, the relevant indicator for women was 18.1% and for men 15.3%, Cystat added.

Furthermore, in 2023, the percentage of the population that was at risk of poverty, meaning that its disposable income was below the at-risk-of-poverty threshold, was 13.9% or 128,000 persons, remaining at the same level as that of the previous year.

The at-risk-of-poverty threshold, which is defined at 60% of the median total equivalized disposable income of the households, was estimated in 2023 at €11,324 for single-person households and at €23,780 for households with 2 adults and 2 children younger than 14 years old, exhibiting an increase of 5,7% in respect to 2022, where the respective thresholds were €10,713 and €22,498.

The median equivalized disposable income (one person) in 2023 was €18,873 in comparison to €17,856 in 2022, Cystat said.

Moreover, the share of the population living at risk of poverty, before any social benefits and pensions (social transfers) were included in the disposable income of the households, was estimated at 33.1%.

When only pensions were included in the disposable income of the households, dropped was reduced to 20%, while when social benefits were further included, the percentage was reduced to 13.9%

In 2023, all the social transfers reduced the indicator by 19.2 percentage points, (13.1 pp as a result of pensions and 6.1 as a result of the social benefits, Cystat added.

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Competition Authority Launches Comprehensive Review of ExxonMobil Cyprus Acquisition

by THEFUTURE.TEAM

September 16, 2025

Investigation Initiated Over Strategic Acquisition

The Competition Protection Authority has commenced a thorough investigation into the acquisition of ExxonMobil Cyprus Limited’s share capital by Petrolina Holdings Public Ltd through Med Energywise Ltd. This inquiry was formally initiated following a session held on 10 September 2025, after an in-depth review of the pertinent report by the Authority’s Service.

Concerns Over Market Compatibility

Authorities have expressed serious concerns regarding the compatibility of the transaction with established competitive practices. The review indicates that the acquisition may affect several critical petroleum markets, both horizontally and vertically, thereby raising the potential for adverse impacts on market dynamics.

Horizontal Market Dynamics

On the horizontal front, potential effects have been identified in the import market for petroleum products, as well as in both wholesale and retail distribution channels of these products. The consolidation is believed to increase the risk of price rises and coordinated actions, given the direct competitive proximity between Petrolina and ExxonMobil.

Vertical and Adjacent Market Implications

Vertical aspects of the merger are also under close scrutiny. The new entity could restrict competitors’ access to critical infrastructure such as storage facilities, supply channels, and customer bases. These restrictions could further affect the onshore distribution of fuels, the wholesale market for lubricants, and specialized technical services connected with fuel station operations.

Local Market Considerations

Particular attention is being paid to the potential concentration in the retail fuel market. The investigation suggests that a reduced competitive landscape within a four-kilometer radius of the companies’ fuel stations could lead to diminished local competition, adversely impacting consumer prices and options.

Next Steps and Industry Impact

The Competition Protection Authority, which reached a unanimous decision to pursue a full investigation, remains open to submissions from parties that might be affected by this transaction, as mandated by current legislation. A final decision is expected within four months upon receipt of all necessary evidence, potentially setting a significant precedent for future market consolidation cases in the energy sector.