The results of high economic growth should be distributed by the government in such a way that poverty is reduced. Minister of Economy Vahan Kerobyan said this at the press briefing after Thursday’s Cabinet meeting of the government of Armenia.
"High economic growth should be aimed at making residents live better. But today, due to the increase in the price of food, we are on the verge of an increase in the number of poverty. The government has a strategy for this. Starting next year, the minimum wage will increase, and new jobs will be created. Over the past year, 40,000 new jobs have been created. This is our action: to create new jobs and increase the incomes of the vulnerable classes. The Central Bank is also fighting against inflation, and it should be noted that we [i.e., Armenia] have the lowest inflation in the region," said Kerobyan.
Separately, he compared the possible reopening of the Armenian-Turkish border to the differences between a “dead end” and a “crossroads.”
"After the opening of the border, Armenia will turn from a ‘dead end’ into a ‘crossroads.’ Naturally, as a result of this, we will have very large economic effects," the economy minister of emphasized.