Armenian PM says real wages rose and poverty rate dropped

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16.11.2023, 13:05

Real wages in Armenia have increased by 33% since 2018, net of inflation, Prime Minister Nikol Pashinyan said today.

Armenian PM says real wages rose and poverty rate dropped

YEREVAN, November 16. /ARKA/. Real wages in Armenia have increased by 33% since 2018, net of inflation, Prime Minister Nikol Pashinyan said today.

According to him, GDP per capita has increased by AMD 1 million 170 thousand or 57.9% since 2018.

Speaking at a discussion of the next year’s draft budget in parliament, Pashinyan said there are more opportunities now for citizens to live a better life in Armenia.

"More than 170 thousand new jobs have been created since 2018. Compared to 2021, poverty rate has decreased to 24.8% from 26.5%, extreme poverty has decreased from 1.5% to 1.2%. But we don't believe we should spend billions to help people overcome poverty. No, we should create work opportunities so that everyone knows that the only way to overcome poverty is to work," the prime minister said.

He stated that now thousands of people come to Armenia to work.

Earlier, Finance Minister Vahe Hovhannisyan said the number of hired workers and salaries were expected to grow by 5.5% and 13.6% respectively by the yearned, and by 2.7% and 8.8% in 2024. -0-

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