Minimum wage to increase in Armenia up to 75,000 drams

YEREVAN, SEPTEMBER 29, ARMENPRESS. Minimum monthly wages will rise in Armenia from 68,000 drams to 75,000 drams starting January 1, 2023.

The Cabinet approved today the package of bills on making changes to the Law on Minimum Monthly Wage and changes and an amendment to the Labor Code.

According to it, the salaries of 77,483 (28.7%) people working in the public sector and 209,723 (31.5%) people working in the private sector will rise as a result of this wage increase.

The expenditures in the state budget directed to labor remuneration will increase by around 15.3 billion drams, and in the private sector – by around 94.2 billion drams.

It is also said that according to Armenia’s Transformation Strategy 2025, it is expected to set the average wage 237,000 drams for 2025, and among the envisaged ambitions is the real growth in average salary by 30% five years later.