LABOR MINISTRY IMPLEMENTS 46 PROGRAMS FOR TOTAL OF $135 MLN DRAMS

ARKA
May 20, 2008

YEREVAN, May 20. /ARKA/. Armenia’s Ministry of Labor and Social Issues
implements 46 programs for total of 41.6bln drams (about $135mln)
this year.

The Ministry is to report not only on the financial indicators, but
also on the quality of works under the programs, Armenian Minister
of Labor and Social Issues Aghvan Vardanian said.

He also reported that the State Fund for Social Security making
pension payments was reformed to a department of the Ministry at the
end of 2007.

The 2007 budget of the social security sphere was 106bln drams
($343.9mln), whereas in 2008 the budget is 152bln drams ($493.1mln)",
he said. The Minister added that the financing has been increased
due to unprecedented rise in pensions in January 2008.

Armenian Government raised the pensions at least by 60% on January
1 2008.

The basic pension has been increased by 60% up to 6,800 drams; average
monthly salary is 21,842 drams against 13,242 drams (64.9% increase).

From: Emil Lazarian | Ararat NewsPress