  Minimum wage set at AMD 35000 in Armenia September 27, 2012 - 16:17 AMT PanARMENIAN.Net - At September 27 sitting, the Armenian government approved the bill on introduction of amendments to minimum wage law. According to Finance Minister Vache Gabrielyan, the amendment envisages rising the minimum wage from AMD 32,5 thous. to 35 thous. The law is expected to enter into force on January 1, 2013. At the previous sitting, the government of Armenia turned down the bill stipulating for doubling of current minimal wage from AMD 32500 to 72500. As the Finance Minister noted, the project might trigger serious problems in the country’s economic development, becoming a burden for Armenia’s state budget. “The 100% minimal wage increase will entail expenditures of AMD 360 bn for the state sector, as well as boost the instances of shadow economy in the private sector, unwilling to declare the actual amount of salaries,” the Minister said. Partner news  Top stories IFC invested $244 million in 40 projects across a range of sectors, including financial markets, manufacturing, and mining. Armenian Prime Minister addressed a letter to Public Services Regulatory Commission over the reconsideration of gas prices. Armenia’s Public Services Regulatory Commission plans to reconsider electricity generation and distribution prices. Edmon Manukyan been addressed by the residents of Armavir and Aragatsotn provinces whose crops have been damaged over a strong hail.   Partner news |  Latest news Brad Pitt’s “World War Z” to open Moscow Film Fest  The fest will feature retrospectives of films by Bernardo Bertolucci and Costa Gavras, as well as a program devoted to Dutch cinema.Wrekin Hill picks up John Malkovich’s “Siberian Education” Based on the novel by Nicolai Lilin, the film is set in the ghetto of Soviet Russia and follows 2 boys who are members of a gang of exiled Siberians.Germans blame Merkel’s stance in eurozone crisis for Eurovision debacle Chancellor Angela Merkel is loathed in parts of Europe for her insisting on painful austerity measures in Greece, Spain and Italy.China’s PM visits India to settle boundary row, boost ties China says Li Keqiang choice of India for his first trip abroad shows the importance Beijing attaches to improving relations with New Delhi. |
