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
A relevant agreement was signed by the minister of finance Gagik Khachatryan and German ambassador to Armenia Rayner Morel.
The total cost of the final deal is over AMD 85.8 billon to be paid in two equal halves, after completion of the deal formalities.
Aleksei Miller was also scheduled to meet with government officials in Germany, which is a major customer of Gazprom’s supplies.
Access to finance is a major impediment to the growth of micro, small and medium enterprises, especially in the rural areas.
Partner news