Armenia posts average salary increase, with no major drop in poverty

Armenia posts average salary increase, with no major drop in poverty

PanARMENIAN.Net - Average monthly salary totaled AMD 150 130 in Armenia in September 2013 increasing by 5,8%, as compared with the same period in 2012.

As the RA National Statistical Service reported, 3,9% and 8,7% growth was recorded in salaries of budgetary and private organizations in September 2013 against 2012 results, totaling AMD 119 403 and AMD 183 997 respectively.

The 2013-2017 governmental program envisages annual salary increase to AMD 50 thous. in 2014, AMD 55 thous. in 2015, AMD 62,5 thous. in 2016, AMD 70 thous. in 2017.

According to amendments to the Law on minimum monthly salary, the minimum salary amount was increased by 30% to AMD 45 thous. which required allocation of additional budget funds to the amount of AMD 6 billion. The new salary system will be implemented in Armenia starting January 1, 2014 with AMD 50 billion in budgetary funds to be extended.

On August 28, President Serzh Sargsyan stated that in 2017, the minimal salary in Armenia will reach AMD 90 thous.

Nevertheless, according to World Bank data, 32,5% of Armenia’s population are beyond the poverty line. Armenia’s Finance Ministry put the poverty rate in 2012 at 33,1%, with a 1% drop forecasted in 2013.

 Top stories
“The European Union expects that this substantial assistance will lead to bold reforms over the next years,” Hristea said.
Over the 9 months of 2014, Ameribank's assets amounted to AMD 334 billion, taking it to the top of Armenia's banking system.
Sergo Karapetyan stated that exports of Armenian fruits (except fort apricots) and vegetables to Russia this year have doubled.
Among CIS countries, Azerbaijan was placed 60th, Russia 91st, Moldova 75th, Ukraine 88th, Kyrgyzstan 101st place.
Partner news