ECONOMIC CRISIS WILL NOT LEAD TO REDUCTION IN PENSIONS IN ARMENIA IN 2010

ArmInfo
2009-11-25 16:54:00

ArmInfo. Armenia’s national budget 2010 does not envisage reduction
in pensions and other social payments because of the economic crisis,
the head of the State Social Security Service Vazgen Khachikyan said
during a press-conference today.

The minimum pension will remain 8,000 AMD ($21) with the average
pension being 26,900 AMD.

Khachikyan says that in 2012 the average pension will be equal to the
minimum consumer basket – 37,000-38,000 AMD ($100). If in 2010 the
economic growth will be high, in 2011 the pension will be increased
so as to compensate for unscheduled growths.

Khachikyan says that no rise in pension will not lead to social
disadvantages as in 2009 inflation is not high. In the last three
years the pension has grown much quicker than the inflation.

From: Emil Lazarian | Ararat NewsPress