Significant poverty reduction expected

YEREVAN, JANUARY 8, ARMENPRESS. Minister of Economy Vahan Kerobyan has said that he expects poverty rate to drop significantly with 2023 data.

He said that the poverty reduction is a highly important indicator for the government.

“In 2022, when we were living in an environment of high inflation and high economic growth, our international partners were warning us that high inflation could lead to up to 40% growth in poverty. But thanks to the outrunning actions taken by our government, not only didn’t we let poverty level to grow, but we also secured a certain reduction. Poverty dropped from 26,5 percent to 24,8%. However, for 2023, we again have high economic growth, but lower inflation, which allows us to hope that we will have significant reduction in the poverty rate as of 2023,” the Economy Minister said.