Poverty rate in Armenia drops to 23.7% in 2023

YEREVAN, July 11. /ARKA/. The poverty rate in Armenia, calculated according to the median line, was 23.7% in 2023, down from 24.8% in the previous year, marking a 1.1 % decrease, according to a report published by the National Statistical Committee of Armenia on Thursday.

Since 2019, Armenia's poverty rate has been calculated using a revised World Bank methodology. The documented poverty line in monetary terms reflects the cost of goods and services (both food and non-food) necessary for a minimum standard of living in the country.

The report indicates that urban poverty stood at 21.5% in 2023 (22.1% in 2022), with extreme poverty at 0.5% (1% in 2022). Rural poverty was 27% (29% in 2022), with extreme poverty at 2% (1.5% in 2022).

Extreme/food poverty in 2023 was 1.1% (1.2% in 2022), the lower poverty line was 9.7%, and the upper poverty line was 42.6%.

The Gini coefficient, a statistical measure of income inequality, decreased from 0.239 in 2022 to 0.230 in 2023 for consumption and from 0.352 to 0.348 for income.

The report also includes data on child poverty. Extreme child poverty was 1.8% (1.9% in 2022), poor children made up 31.7% (32.3% in 2022), and non-poor children were 68.3% (67.7% in 2022).