Inflation subsides, foreign workers in the occupied territories increase

Falling inflation is what attracts attention, writes "Cyprus"

b katexomena33 WORKERS, Occupations, inflation

The retreat of inflation is what attracts attention in the reports published by the "central bank" of the occupying regime for the years 2022 and 2023, writes "Cyprus".

The publication refers to data from the "central bank" which released its fourth quarter 2023 report covering data for the period October-December 2023. According to the data, the number of registered workers, which was 119.568 in 2020 before the pandemic , rose to 127.172 in 2022 and 141.441 in 2023.

During the period between November 2022 and November 2023, the number of insured workers with a work permit [foreigners] showed an increase of 16,89% and rose from 54.355 to 63.537, while during the same period the number of of insured workers "citizens of the tdvc", as referred to in the pseudo-state, rose from 72.817 to 77.904.

According to data from the "labor office", the largest share in the change in the number of insured workers with a "work permit" concerns third-country nationals, since the number of insured third-country nationals, which was 16.504 in 2020, rose to 18.846 in 2022 and showed an increase of 36,51% in November 2023 compared to the same month of the previous year rising to 25.727.

During the same period, the number of insured Turkish citizens working with a work permit in the occupied territories increased from 35.509 to 37.810.

The share of insured "citizens of Turkey" among all insured workers was 55% in November 2023. The share of insured citizens of Turkey among all insured workers fell to 26,7% in 2023, while the share of of insured citizens of other countries was 18,2% in May 2023.

According to the report, inflation for the months of October, November and December 2023 showed an increase of 1,92%, 4,42% and 5,44% respectively compared to the previous months. It is recalled that during the same period in 2022, the figures in question were 3,42%, 2,48% and 4,5%.

Monthly inflation fell from an average of 5,74% in 2022 to an average of 5,24% in 2023.

Annual inflation for the October, November and December quarter of 2023 was 78,6%, 81,99% and 83,63% compared to the same period last year. It is noted that in the same period of 2022, these numbers were 120,72%, 114,35% and 94,51% respectively.

In the fourth quarter of 2023, inflation compared to December of the previous year was 66,78% in October, 74,16% in November and 83,63% in December. In the same period of 2022, these numbers were 81,64% in October, 86,14% in November and 94,51% in December.

Source: KYPE