YEREVAN. – Poverty in Armenia increased by 5 percent—and not by 13 percent—ever since 2008, Deputy Minister of Finance Vardan Aramyan said during a press conference on Wednesday.

“As a result of the work done by foreign experts, the method for measuring poverty has changed since 2010. It would have constituted 27 percent, in line with the old method. And that is why the numbers should not be played around with and say that poverty in our country has risen by 12 percent,” said Aramyan.  

In his words, poverty should have made up 51-52 percent—in line with the new method—if the Government’s social expenditures are not increased. 

“We have not solved all the problems with this, but we have done what the budget has allowed us to do.

We certainly wish that our citizens’ salaries and pensions be high. But it would not have been correct to spend all credits. The credit costs should not exceed capital investment. It is solely in this case that the credit serves progress. This was our key problem in 2008. Now, we do not need to resort to such drastic measures,” Armenia’s Deputy Minister of Finance stated.