Wednesday, February 28 2018 16:21

ArmInfo. According to the forecasts of the Central Bank of Armenia, the unemployment rate in 2018 will be 17%, followed by an annual decline of 0.3-0.5%. This is noted in the Central Bank's Monetary Policy Program (MCP) for the 1st quarter of 2018, published in late February, where the decline in the unemployment rate is due to the pace of economic development pursued by the Government in the investment promotion policy implemented by the infrastructure reforms.

In 2017, the Central Bank of Armenia forecasted the unemployment rate at 17.9%, followed by a decrease in the medium-term prospect by 0.3-0.5 percentage points annually to 17.4-17.6%. At that time it was also noted that the acceleration of economic growth rates, the government's policy of stimulating investment, and the implementation of infrastructure reforms will help to reduce unemployment.

According to statistical data, in 2016 the unemployment rate in Armenia was 18%, against 18.5% in 2015, 17.6% in 2014, and 16.2% in 2013. In the third quarter of 2017, the unemployment rate in Armenia fell from 17.8% to 16.5%, compared to 18.1% a year earlier.

The poverty level in Armenia, according to the forecasts of the World Bank, will decrease in 2017-2018 to 24.1-23.2%, against 24.9% in 2016 and 25.6% in 2015.