Finance minister says poverty rate falls as economic gains continue

Poverty rate in Armenia has decreased by 2 percentage points, while extreme poverty has declined by 0.5 percentage points, according to Finance Minister Vahe Hovhannisyan.

Presenting the 2025 budget execution report to lawmakers, the minister said that positive economic developments have also been reflected in poverty indicators, accompanied by a gradual reduction in income inequality.

“Positive economic developments have also been reflected in the poverty indicator. In particular, a 2 percentage point decline has been recorded,” Hovhannisyan said.

The finance minister said that compared with 2021, the poverty rate has decreased by 4.8 percentage points, while extreme poverty has declined by 0.9 percentage points.

Hovhannisyan said that current positive developments suggest that the trends of reducing poverty and inequality will continue.

This process, he said, will be supported by government policies, including universal health insurance, pension increases, human capital development, and measures aimed at improving economic infrastructure.

“These policies will not only make a positive contribution to overcoming inequality but will also increase the overall well-being of society,” the minister said.