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credit crisis, cutbacks, Cyprus, economy, Money, spending

ALMOST everyone in Cyprus is worried about the crisis thinking it will continue for at least another two years, a poll released yesterday showed.

A total of 86.6 per cent of those asked said they now spent less on clothes and shoes; 80.5 per cent said they spent less on entertainment and recreation; while around half said they were spending less on food.

Almost half (49.7 per cent) said they had cancelled or changed holiday plans while 30.5 per cent said they had made no holiday plans whatsoever.

Almost 40 per cent said they had cancelled plans to build or renovate a home while 48.3 per cent said they had no such plans at all.

A total of 19.3 per cent said they had delayed or failed paying in a bank instalment over the last six months.

Around 96 per cent of those asked said they were worried about the economy. A small minority of 4.0 per cent said they worried only a little or none at all.

Almost half (47.6 per cent) said the financial crisis would go on for two more years at least, while 24.1 per cent saying it would go on two years and 14.9 per cent saying it would go on for a year. Less than 1.0 per cent thought the crisis would continue for less than six more months.

Although people said they had cut down expenses in general, a majority of 81.2 per cent said they would not pull their children out of primary, secondary or tertiary education.

The poll was done by Evresis Integrated Marketing Solutions on behalf of Ant1 TV station. A total of 1,256 people were interviewed over the phone between February 13 and 17 this year on a random stratified sample basis.

The poll is available at www.ant1.com.cy (Greek only).