ArmInfo. The World Bank expects the poverty rate in Armenia based on purchasing power parity (PPP), i.e., $8.3 per day (updated in 2021), to decline from 56.2% in 2024 to 53.1% by 2027, as stated in the World Bank's report "Armenia's Economic Pulse: Fairer Markets for Inclusive Growth."
Additionally, WB experts note that certain factors could slow the pace of poverty reduction. In this regard, they pointed out the slower growth in agriculture and services, which are the main employers of the poor, as well as the risks of geopolitical tensions and disruptions in trade.
According to the study, in 2023, the poverty rate in rural Armenia was 63.3%, compared to 52% in urban areas. Forty-five percent of the country's poor lived in rural areas, accounting for 41% of Armenia's total population. A slight decrease in poverty in 2024, despite an increase in unemployment, suggests that income from other sources, including remittances, social transfers, and wage increases in certain sectors, played a "safety cushion." "There is a need to strengthen labor market opportunities, given that poverty remains highest among the unemployed and households dependent on low-productivity farms," the report states.
According to the source, the poverty rate in Armenia in 2022, measured in PPP, was 55.7%, while in 2023 it was 55.5%. - 56.9%, in 2024 - 56.2%.
