Economist Mertkan Hamit: We're Competing for the Top Spot in the Poverty Index

According to a report in Gazedda, Hamit drew attention to socio-economic issues such as increasing inequality, high youth unemployment, and low female employment rates, stating that the northern part of Cyprus ranked fourth in the Poverty Index after Argentina, Syria, and Lebanon.

Referring to recent research, Hamit emphasized that the Gini coefficient approached 0.40, indicating deep inequality. He also noted that youth unemployment stood at 17.5 percent, with a female employment rate of 36.1 percent and a labor force participation rate of 38.3 percent. Hamit added that these rates were among the lowest among EU and OECD countries and that the income gap between men and women favored men.

Hamit also discussed the Poverty Index, stating that the northern part of Cyprus ranked fourth in this index with 99.55 points, even behind Sudan. He expressed that this situation indicated that the country was in a very difficult socio-economic situation.

Critiquing Economy and Energy Minister Olgun Amcaoğlu's statements about the management of the TRNC economy, Hamit said that this statement was either a slip of the tongue or a sarcastic approach, but in either case, it did not reflect the truth. Hamit stated that ignoring the real situation of the country and giving positive messages would not solve the problem but could deepen it.

Hamit emphasized the need for urgent steps to solve the socio-economic problems of Northern Cyprus, including reducing income inequality, lowering youth unemployment, increasing female labor force participation, and fighting corruption.

Source: Gazedda Kıbrıs