At September 27 sitting, the Armenian government approved the bill on introduction of amendments to minimum wage law.
According to Finance Minister Vache Gabrielyan, the amendment envisages rising the minimum wage from AMD 32,5 thous. to 35 thous.
The law is expected to enter into force on January 1, 2013.
At the previous sitting, the government of Armenia turned down the bill stipulating for doubling of current minimal wage from AMD 32500 to 72500.
As the Finance Minister noted, the project might trigger serious problems in the country’s economic development, becoming a burden for Armenia’s state budget.
“The 100% minimal wage increase will entail expenditures of AMD 360 bn for the state sector, as well as boost the instances of shadow economy in the private sector, unwilling to declare the actual amount of salaries,” the Minister said.
