Palma.—Around 7.5 percent of homes in the Balearic Islands have “great difficulty” in reaching the end of the month, according to the National Institute of Statistics (INE) yesterday.

Furthermore, the INE which reports to Central Government said that 41.6 percent of homes in the Balearics (44.5% in the whole of Spain) cannot afford to go on holiday more than one week a year; 32.3% in the Islands don't have money to confront their cost of living, compared to 40 % on the mainland; and 13.7% of families in the Islands (7.4% on the mainland) are reporting that they are falling behind in paying for their main home. The figure for the Balearics is the highest in the country.

The most difficulty in getting to the end of the month, said the INE, is being registered in Murica (22.2% of homes) and the least (4.5%) in Aragon.
INE revealed in its report the poverty rate for this year compared to 2011. In the Balearics, the figure stands at 18.5% compared to 21.8% at a national level.

Indeed, according to provisional data for 2012, the INE said that 21.1 percent of the population of Spain lives below the poverty line compared to 21.8% in 2011. The 0.7% drop in the poverty rate said the INE is due to stability in income of the over 65 age bracket even though incomes have lowered for younger people. But 12.7% of homes across Spain are finding it difficult to get to the end of the month, compared to 9.8% last year.

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