Arsen Torosyan: Raising the minimum wage has fiscal consequences

ArmInfo.The minimum wage falls short of our dreams, but raising it has fiscal consequences and affects the economy. Armenian Minister of Labor and  Social Affairs Arsen Torosyan made this statement during a government hour on December 3, when responding to questions from parliamentarians.

He also noted that the average salary in Armenia is on the rise,  while poverty rates are decreasing. Citing data from the Statistical  Committee, the head of the Ministry of Labor and Social Affairs  suggested that the poverty situation will be much better in 2025 than  in 2024. In this regard, the Minister noted that the number of people  earning more than 75,000 drams is growing and will continue to grow.  "We are currently in an optimal position to advance the economy and  social development," Torosyan emphasized.

He also noted that social problems should be addressed not through  benefits, but through employment.