Wednesday, August 18 2021 22:03
Naira Badalian

Pashinyan`s government pledges to ensure a minimum y-o-y economic  growth of 7% and completely eliminate extreme poverty

Pashinyan`s government pledges to ensure a minimum y-o-y economic  growth of 7% and completely eliminate extreme poverty

ArmInfo.Until 2026, the Armenian government undertakes to increase pensions to meet the needs of the minimum consumer basket, the minimum wage - up to 85 thousand drams. Armenian Prime Minister Nikol Pashinyan announced this at a  government meeting on August 18, presenting the first section of the  government's program for 2021-2026, entitled "Security and Foreign  Policy".

As Pashinyan pointed out, the most important factor in ensuring the  security of Armenia is the economic development and social stability  of the republic. "A developing, taxable economy must generate the  resources necessary to ensure the security of Armenia and Artsakh.  Such resources can only be provided by a high-tech, industrial,  productive, export-oriented, competitive and inclusive economy that  meets high environmental standards. Improving the social status of  citizens, social stability, availability of effective health systems  and anti-epidemic protection are crucial for ensuring internal  security, "the Prime Minister said.

In particular, according to the RA Prime Minister, by 2026, the  Pashinyan government undertakes to ensure a minimum y-o-y economic  growth of 7%, and in the presence of favorable external economic  conditions - at the level of 9%. So, according to the results of the  planned measures, the current unemployment rate of 17-18% should be  below 10%, the poverty level should be halved, extreme poverty should  be completely eliminated, and pensions (now the basic pension is 30  thousand drams) should be increased to meet the needs of the minimum  consumer basket (55 thousand darms). The size of the minimum wage  will also be increased from the current 68 thousand drams to 85  thousand drams. The government will try not only not to slow down the  growth rate of the ICT sector, but also to strengthen the dynamics.  So, by 2026, according to the government program, the number of  people employed in the field is planned to be increased to 35  thousand people (plus 16 thousand), and the turnover - to 500 billion  drams or 6-7% of GDP, from 4% at the end of 2020 of the year.

In its election program, the Cabinet of Ministers fixed the goal - to  ensure equal economic conditions for all, which should lead to a  reduction in the level of unemployment and poverty, and the formation  of a middle class. The authorities plan to achieve all this by  stimulating productivity growth and investment flow.