‘This is an unprecedented event in our country’s history’ - Pashinyan

Armenian Prime Minister Nikol Pashinyan announced on his Facebook page that, “In the pre-election program of the 2021 snap parliamentary elections, we promised to equalize the minimum pension to the cost of the food basket by 2026.

Starting today, the minimum pension in Armenia will increase from 31,600 drams to 36,000 drams. This amount is currently 99.5 percent of the established minimum food basket value in Armenia.

Moreover, pensioners who spend their pensions in cash and participate in the 10 percent refund program will effectively receive an amount exceeding 106 percent of the food basket. This is an unprecedented event in our country’s history. For the first time, a pensioner will be able to cover their minimum food expenses with their pension.

It is important to note that only 12 percent of pensioners (about 73,000 people) receive the minimum pension. The remaining approximately 500,000 pensioners receive more than 36,000 drams, and their pensions will also increase starting July 1.

I would also like to emphasize that at the time of the 2018 Revolution, the minimum pension in Armenia was 16,000 drams. In other words, over the last five years, the minimum pension has more than doubled.”