According to Armenian Ministry of Labour and Social Issues, minimum of subsistence in Armenia comprises AMD 37000. The law stipulates for minimum of subsistence to be considered as a basis for setting salaries and pensions, the financial counselor of parliamentary speaker, Doctor of Economics Tatul Manaseryan stated.

“I believe we have enough shadow funds to provide the minimum level. To increase pensions to the level discussed, AMD 10 billion is necessary. At the same time, budget deficit in 2011 will comprise AMD 148,6 billion,” the expert said at October 22 news conference.

The expert urged for correct use of economic potential by employing means provided by shadow economy, allowing lower crediting rates for entrepreneurs as well as using Diaspora’s possibilities.