Government seeks to raise minimum wage, eliminate extreme poverty in next 5 years

YEREVAN, AUGUST 18, ARMENPRESS. Prime Minister Nikol Pashinyan presented the government’s economic and social protection targets in the 2026 action plan.

PM Pashinyan said the government aims at a 7% growth of the minimum level of the GDP’s annual average growth, and 9% in favorable foreign economic conditions.

The targets include increasing the payment fund of the salaries of non-government sector of the formal sector to 25% of the GDP, and ensuring that unemployment rate is below 10%.

Speaking about the social protection issues of citizens, Pashinyan said they have outlined the following targets: “to equalize the size of minimum pension and average pension to the values of food and consumer baskets, define the minimum salary at 85,000 drams and eliminate extreme poverty.