ArmInfo.Armenia's Ministry of Labor and Social Affairs plans measures to put an end to abject poverty in Armenia, Minister Narek Mkrtchyan stated as he commented on Armenia's 2024 draft budget.
According to the minister, various events are planned to be held next year to overcome extreme poverty. Mkrtchyan, referring to data from the RA Statistical Committee, noted that over the past two years there has been a decrease in the level of poverty and extreme poverty. "This trend, contrary to a number of forecasts, will continue in 2024," the minister said.
According to the results of a joint study by the World Bank and the RA Statistics Committee, the poverty level in Armenia at the end of 2022 based on purchasing power parity (PPP) of $6.85 per person per day (2017 PPP) was 51.3%.
According to the draft state budget of the country for 2024, next year the expenses of the Ministry of Labor and Social Affairs will amount to 755.3 billion drams, which exceeds the figure of a year ago by 15.5%.
