We Have a Minimum Wage Number That Is Far From Our Desired Minimum Wage: Arsen Torosyan

We have a minimum wage number that is far from our desired minimum wage, but we also need to understand that increasing the minimum wage has other consequences as well. Increasing the minimum wage also has an impact on the economy, which is not always positive. This was stated by Minister of Labor and Social Affairs Arsen Torosyan during the National Assembly-Government Q&A session while responding to the observation made by 'Hayastan' faction member Tadevos Avetisyan regarding the minimum wage, that it will not be increased and will remain at 75,000 drams, which is about 70,000 drams lower than the minimum survival costs for one person registered in the middle of this year.

In response, the minister expressed the opinion that poverty has decreased, and the number of poor people has reduced. According to the National Statistical Service, the number of people who have issues related to the differences between the minimum wage and the food basket is minimal today.

“But we also see that our average wage is increasing, meaning that our citizens' incomes are rising, and according to the latest statistical data, poverty is also decreasing. I believe the figures in 2025 will be better than those of 2024,” he added. “As the Prime Minister mentioned in today’s speech regarding the budget discussion, we are close to eliminating extreme poverty so that it does not exist at all. We hope to achieve this in the near future. Therefore, our policies are yielding results, even though our minimum wage figure is 75,000 drams,” he said.