SRC: For Q1 of 2018, average monthly wage in Armenia increased by 7060 AMD

ArmInfo. For Q1 of 2018, the average monthly salary in Armenia increased by 7,060 AMD or 4.3%, and the number of employees by 3.7% or 18.029 people, the press service of the State Revenue Committee of Armenia reports.

For the first quarter of this year, compared to the same period last year, a 7% increase in the estimated income tax was recorded. In particular, the growth was about 5.6 billion AMD, which is largely due to the dynamics of the payers of the trade fee by about 6.1 billion AMD or 12.6%.

Earlier, ArmInfo, referring to the data of the National Statistical Service of Armenia, reported that the nominal wages in Armenia in January-March 2018 made 171,015 AMD ($ 355) with the acceleration of annual growth to 5.7%. In March, this indicator grew by 3.9%, and in March 2018 compared with March 2017 - by 5.5%. According to the preliminary data of the National Statistical Service of Armenia, the private sector was more likely to accelerate the growth of nominal wages.

Meanwhile, in Armenia, the unemployment rate in 2017, according to official figures, fell to 17.8% from 18% in 2016. As a comparison, we note that in 2015 the unemployment rate in the country, according to official statistics, was 18.5%, in 2014 - 17.6%. According to the National Statistical Service of Armenia, the average number of unemployed in Armenia in 2017 was 218.9 thousand, having decreased by 0.6% in the annual section. According to the source, as of March 1, 2018, 902 citizens were employed in Armenia (an annual increase of 33.6%) or 1.1% of the total number of job seekers. The number of registered unemployed in Armenia as of March 1, 2018 reached 69.1 thousand, with an annual decline of 14.6%. Of this number, 46,000 were found (with an annual decline of 13.5%), and men - 23.1 thousand (with an annual decline of 16.6%).

Meanwhile, at the end of January this year from the rostrum of the Armenian parliament deputy head of the SRC Vakhtang Mirumyan said that from January 1, 2018, the new norms of the TC provided for a reduction in the tax burden for citizens receiving wages less than 279,000 AMD, or 540,000 or 90% of all employees. However, a month earlier the Armenian government initiated the reduction of the income tax rate. How much it will be reduced, is still unknown. At present, the income tax rate is 23% for incomes not exceeding 150 thousand AMD ($ 310). According to the next scale up to 2 million AMD ($ 4 thousand), the tax rate is raised by a progressive curve to 35%. The income exceeding 2 million AMD is subject to a slightly higher rate. Another 5% of income goes to mandatory payments through pension savings.