CMIRS Survey: 58.91% Expect Worse Finances in Two Years

The survey, conducted face-to-face with 500 participants, evaluated the political trust, social trust, personal confidence, and happiness perceptions of Turkish Cypriots. It also examined how these metrics relate to one another and how they are influenced by developments over time.

This survey is part of CMIRS’s regular quarterly studies. Researcher Mine Yücel emphasized the deep impact of the economic situation on society, leading to a pervasive sense of exhaustion and despair.

“Our findings reveal a society that is unhappy, hopeless, and anxious. Economic concerns, both personal and societal, exacerbate this sentiment. The data shows that while political issues are relevant, it is the economy that significantly shapes the public mood,” Yücel said.

Highlighting the pessimistic outlook, Yücel shared key findings:

• Only 14.98% of respondents expect their personal financial situation to improve in two years.
• For the national economy, this figure drops to 11.23%.
• Seven out of ten participants expressed serious economic concerns.

Yücel also pointed to income inequality and systemic issues undermining trust in institutions:

“In an environment where the sense of justice is so severely eroded, it is no coincidence that politics is often driven by economic favoritism. Many institutions in the country have been hollowed out, with their effectiveness diminished through partisan appointments,” she said.

To overcome these challenges, Yücel called for profound reforms:

“It is time for a new political approach, one built on social welfare and justice, supported by strong and independent institutions. As highlighted in Daron Acemoğlu’s Nobel-winning work, the foundation of economic development lies in robust institutions. Rebuilding this foundation is the first step toward reviving our society.”

The survey also revealed that 26.11% of respondents believe their financial situation will remain the same, while only 14.98% maintain an optimistic view about the future.