Income inequality has substantially declined in several Asian countries including Armenia.

Bloomberg reported about the aforementioned citing a report from the United Nations’ Economic and Social Commission for Asia and the Pacific (UNESCAP).

The publication noted that even though the gap between the rich and the poor has been growing across the world, there is a handful of countries in the Asia-Pacific region where it has decreased. 

Large reductions in inequality were seen in North and Central Asia, including Armenia, Kyrgyzstan, the Russian Federation and Uzbekistan, the UNESCAP report showed.