News Local Cyprus spent 6.69% of social protection budget on family benefits in 2017

Cyprus spent 6.69% of social protection budget on family benefits in 2017

 

Cyprus spent 6.69% of its total social protection budget (€242.77 million, or €282.45 per inhabitant) on family benefits in 2017, according to Eurostat figures published on Monday on the occasion of the Global Day of Parents and International Children’s Day, celebrated every year on June 1.

The 27 EU Member States spent €301 billion on family benefits in 2017 (2.3% of EU GDP). This represented 8.6% of the total spent on social protection benefits.

The share of social protection expenditure on family benefits varied significantly between EU Member States.

It accounted for more than 15% of total social benefits only in Luxembourg (15.3%), followed by Poland (13.4%) and Estonia (13.1%). The lowest shares were registered in the Netherlands (4.2%) and Portugal (4.9%).

In Cyprus this rate is 6.69% of the total social protection budget (€242.77 million, or €282.45 per inhabitant) and in Greece 5.66% of the total social protection budget (€2.54bn and €236.09 per inhabitant).  Cyprus and Greece rank seventh and fifth lowest in terms of comparative expenditure and 11th and 9th in relative expenditure per inhabitant.

The annual family benefits expenditure per inhabitant was also highest in Luxembourg (€3,100 per inhabitant), followed by Denmark (€1,700), Sweden (€1,400), Germany (€1,300) and Finland (€1,200). Please note that the value is overestimated for Luxembourg compared with other countries, as a significant proportion of benefits are paid to persons living outside the country. In 2017, three countries had family benefits expenditure below €200 per inhabitant: Romania (€100), Bulgaria (€130) and Lithuania (€180).

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