Poverty rate in Armenia was 24.8% in 2022

YEREVAN, November 27. /ARKA/. The poverty rate in Armenia dropped to 24.8% in 2022 from 26.5% in the previous year, having decreased by 1.7 p.p., the National Statistical Committee says in a report.

The poverty rate in Armenia, starting from 2019, has been calculated according to the revised World Bank methodology: the documented poverty line in monetary terms represents the cost of (food and non-food) goods and services, which reflects the minimum standard of living in a given country.

According to the report, the monthly poverty line in Armenia in 2022 for an average adult was 52,883 drams ($121.4), the upper line was 63,060 drams ($144.7), the lower line was 42,708 drams ($98) and the extreme line was 29,934 drams ($68.7).

Extreme/food poverty in 2022 was 1.2% (1.5% in 2021), the lower poverty line was 11.6% and the upper line was 41.3%.

The report also provides an estimate of the depth of poverty (4.7% in 2022), which shows the poverty deficit, that is, how much the average income (or consumption) of the poor is below the poverty level.

This estimate also shows that if the government were able to mobilize 4.7% resources by targeting them only to poor households, poverty would theoretically disappear, assuming that aid is actually provided to the poor.

The severity of poverty reflects a measure of consumption inequality among the poor. This indicator was estimated to be 1.3% at the end of 2022. -0-