YEREVAN. – As of January 1, 2014, the average pension in Armenia will rise by 15 percent, and as of July 1, the wages will rise by 40 percent. 

Prime Minister Tigran Sargsyan noted the abovementioned during Saturday’s special Cabinet session.  

The salaries and pensions will be raised on the account of the additional revenues that are envisioned in the state budget.   

On his part, Labor and Social Affairs Minister Artem Asatryan said the increases in pensions will be different for different groups. Hence, the pensions of those that receive low pensions will rise by up to 25 percent, whereas the pensions of those that receive high pensions will increase by a mere 3 percent. In addition, a minimum monthly pension of 18,200 drams (approx. $45) will be set.

In this connection, PM Tigran Sargsyan stated that, by making amendments in the law, the pension differences between the groups should be lessened.