Downward Trend In Risk Of Poverty And Social Exclusion In Malta, New NSO Study Finds
A new study has indicated a significant decrease in the poverty risk rate on the island – with statistics revealing its reached its lowest in the past six years.
Data from the National Statistics Office (NSO) highlight this favourable trend, noting a decline to 16.7% in 2022 from the previous rate.
Data shows the rate of individuals at risk of poverty or social exclusion also dipped to 20.1% from 24.6% back in 2013.
This is the result of a noticeable shift of individuals moving from lower-income brackets to higher ones, contributing to a tangible reduction in poverty rates.
In terms of income, an increase is noticeable both in gross household income and per capita disposable income after tax. The average disposable income of families has grown to nearly €34,900, a significant rise from €23,500 in 2013.
With a focus on family structures, the data reveals that families with dependent children are faring better, with the percentage of poverty risk falling by 1.3 percentage points to 15.3%.
The most substantial improvement was found among single parents with more than one child and two-parent families with less than two children.
Despite these positive trends, the rates are still considerably high with over 85,000 people in Malta live in households with an income below €9,744 according to the European Statistics on Income and Living Conditions (EU-SILC) last year putting us right below the European average.
Do you think these statistics reflect the real living conditions on the island?