YEREVAN, November 30. /ARKA/. Armenia’s poverty rate stood at 25.7% by the end of 2017, having dropped by 3.7 percentage points from 2016, according to the National Statistical Committee’s report on poverty and social panorama of the country.



According to the report, for the first time the poverty level in 2017 was down by 1.9 percentage point from 2008, when it was 27.6%. Following the financial crisis and the double-digit economic downturn, the level of poverty over the past seven years was only rising.



"Poverty rate drop in 2017 was driven by the economic growth. Thus, in 2013 the economy grew by 3.3%, in 2014 - by 3.6%, in 2015 - by 3.2%, in 2016 - by 0.2%, and in 2017 - by 7.5%. Economic growth in 2017 was the highest after the 2008 financial crisis. The average monthly consumption in 2017 increased by 10.2% from the previous year," the report says.



According to NSC, the share of the very poor among the population in 2017 was 10.6% against 12.6% in 2008, and the share of extremely poor was 1.4% against 1.6%. Thus, according to the report, about 766 thousand people in 2017 were rated as poor, 316 thousand as very or moderately poor, and 42 thousand extremely poor.



The poverty level in Yerevan was 22.4%; in other towns - 23.6%. The lowest poverty level among the regions was in Vayots Dzor - 16.9% and in Aragatsotn - 17.6%, while the highest was in Shirak (44.3%) and Kotayk regions - 31.1%.



In 2016, the upper monthly poverty threshold was 41,612 drams or $86.2 per adult (in 2008 - 29,903 drams); the lower poverty threshold was - 34,253 drams or $71, and the extreme poverty threshold – was 24,269 drams or $50.3. At the end of 2017, Armenia’s population stood at 2,986,100 people. -0-





17:05 30.11.2018