Armenian government to spend 40.7bln drams on salary increase as from July 1, 2015

Armenian government to spend 40.7bln drams on salary increase as from July 1, 2015

YEREVAN, July 4. /ARKA/. Armenia’s government will allocate 40.7 billion drams to raise salaries as from July 1, 2015, minister of finance Gagik Khachatryan said at Thursday’s government meeting in presenting mid-term spending for 2015-2017.

The cabinet approved the mid-term government spending program for 2015-2017, which will serve as basis for 2015 government budget.

The wages will be increased using internal sources and undistributed outer sources. Total appropriations will amount to 40.7bln drams, including 28.9bln drams in 2016 and 40.5bln drams in 2017, Khachatryan said.  

The minister also said 33.8bln drams will be spent to raise pensions by 15% as from January 1, 2015 (apart from pensions paid to officer corps that will get the pay increase as from July 1). Government allocations for pension increase will amount to about 35 billion drams in 2016 and about 40.9 billion drams in 2017.

Appropriations for social benefits will total 3.1bln drams in 2015, 1.4bln drams in 2016 and 1.5bln drams in 2017, the minister said.

According to ArmStat, monthly average wages was 161,036 drams in May 2014. In 2013, average pension in Armenia was 29,122 drams and average family allowance per household was 29,350drams. ($1 – 407.99 drams). –0--

11:33 04.07.2014

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