As of Saturday, the minimum monthly pension in Armenia will be set at 36,000 drams instead of 31,600 drams. The Armenian government reached this decision at its Cabinet meeting Thursday.

Narek Mkrtchyan, the Minister of Labor and Social Affairs of Armenia, presented the respective program and said: "The average [monthly] pension will increase by 7.1%, from 46,100 drams to 49,700 drams. The average [monthly] military pension will reach 91,600 drams from the current 87,590 drams. The ratio of the minimum [monthly] pension to the food basket is 99.5%."

According to Mkrtchyan, Armenia has positive dynamics also in terms of the ratio of the average monthly pension to the consumer basket.

"Currently, it is 68.9%; but with the July 1 increase, we increase this ratio to 73.7%. Since 2018, we have increased the minimum [monthly] pension by 225%, from 16,000 drams to 36,000 drams at this time, in the case when we say that the food basket has also recorded price increases. Food price increases are 73%, and that of the pension—225[%]," added the labor and social affairs minister of Armenia.