ACCORDING TO WB REPORT, POVERTY REDUCED NOTABLY IN ARMENIA
YEREVAN, MARCH 10, NOYAN TAPAN. In recent years, poverty among the
Armenian population has been reduced from 50% to 30%, while extreme
poverty – to less than 5%. This is said in the report on
implementation of the strategy of assistance to Armenia that the World
Bank’s Board of Directors approved on March 8. According to the
report, poverty has been notably reduced in Armenia, as well as
sifficient progress has been registered in terms of increasing
expenditures in the social sector and reform implementing. Under
conditions of growth in GDP per capita and the country’s solvency, the
report says, Armenia may start using the limited financing of the
International Bank for Reconstruction and Development on
non-concessional terms, in addition to financing provided by the
International Development Association on favorable terms. This is a
clear sign that Armenia is joining the group of countries with medium
income. At the same time, this shift should be gradual to avoid
premature debt restructuring.