Tuesday, November 19 2019 12:04
Alexandr Avanesov

In Armenia, the minimum wage will be increased to 68 thousand drams

In Armenia, the minimum wage will be increased to 68 thousand drams

ArmInfo.  In Armenia, the   minimum wage will be increased up to 68 thousand drams. Amendments to  the Laws "On the Minimum Wage" and "On Remuneration of Persons  Holding Public Positions" were adopted at the meeting of the RA  National Assembly on November 19 in the second and final reading.

According to the co-author of the presented document, MP of the  National Assembly Varazdat Karapetyan, no proposals were received  from the deputy corps for the second reading. Together with the  government, minor editorial changes were made to the document.  Varazdat Karapetyan noted that initially it was planned to increase  the minimum wage from the current 55 thousand drams to 63 thousand  drams, however, the government suggested setting a rate of 68  thousand drams, which the deputies agreed. The calculations are made  taking into account the indicators of the minimum consumer basket.  The innovation, which will enter into force on January 1, 2020, will  affect 63 thousand employees of the public sector, and 130 thousand -  private. According to the deputy, as a result of a survey conducted  among 1,500 entities, it turned out that the private sector favors an  increase in the minimum wage to 90 thousand drams, however, taking  into account the existing risks, the Cabinet of Ministers stopped at  around 68 thousand drams, which will lead to state budget  expenditures in the amount not exceeding 2 billion drams. The  document will be valid until December 31, 2020, after which it will  be revised again in the direction of increasing the minimum wage.

Taking into account the indicators of the minimum consumer basket,  there was also a need to amend the law "On Remuneration for Employees  in Public Positions", which will increase wage rates for individuals  in public positions. For example, a deputy's salary is formed on the  basis of the base salary multiplied by ten. If the minimum wage will  be 68 thousand drams, the actual - 88 thousand drams, then the amount  multiplied by 10 will amount to 880 thousand drams.

In turn, the Deputy Minister of Labor and Social Affairs of the  Republic of Armenia Arman Udumyan informed about the government's  intentions to develop mechanisms for indexing wages so that further  there is no need for constant legislative changes. This work will  begin in 2020. An increase in wages will make it possible to reduce  the level of extreme poverty in the country by 9.1% points.

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Search by date

Government Bonds

Issue volume

10 billion

Volume of T-bills for placement

200 million

Volume of submitted competitive applications

200 million

Volume of satisfied bids

200 million

Yield at cut-off price

 5.8314%

Maximum yield

 5.8314%

Мinimum yield

 5.8314%

Weighted average yield

 5.8314%

Number of participants

2

The maturity date of T-bills

03.02.2020

ArmEx

 

СПРОС (Покупка)

USD

Средневзв. Цена

482,00

ПРЕДЛОЖЕНИЕ (Продажа)

  USD

Средневзв. Цена

-

СДЕЛКИ

USD

Цена откр.

482,00

Цена закр.

482,00

Мин. Цена

482,00

Макс. Цена

482,00

Ср/взв. Цена

482,00

-0.16

Кол-во сделок

1

Объем (инвал.)

200 000

0бъем (драм)

96 400 000

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