Minimum pension in Armenia is higher than subsistence

YEREVAN, August 11. /ARKA/. Armenian Prime Minister Nikol Pashinyan said at a government meeting on Friday that the minimum pension is currently higher than the subsistence , which according to him is worth now 34,825 drams (about $90).

Citing the government's decision to raise on July 1 the minimum pension to 36,188 drams, Pashinyan said all pensioners now receive a pension that exceeds the size of the subsistence.

Pashinyan noted also that the cost of the subsistence has dropped due to the deflationary processes.

Minister of Labor and Social Affairs Narek Mkrtchyan, in turn, added that the ratio of the minimum pension to the subsistence is 103.4%.

Deflation has been observed in Armenia for the last two months: in July prices fell by 0.1% year-on-year and by 0.5% from June.

On July 1, the minimum pension was raised from 31,600 to 36,000-drams.The average pension rose from 46,100 to 49,700. The average amount of the military pension increased from 87,500 to 91,600 drams. ($1 - 386.05 drams) -0-