19.04.2016 18:11
YEREVAN, April 19. /ARKA/. Poverty reduction and income growth across all levels of the welfare distribution in Armenia are likely to stagnate during 2017-18, the World Bank says in its April economic update, entitled ‘Impact of China on Europe and Central Asia.’
It says even under an optimistic scenario—the agricultural sector continues to perform well and remittance inflows recover—without substantial improvements in the business environment and the domestic labor market the poverty rate is projected to fall only gradually to 23.8 percent in 2018.
The elimination of temporary electricity subsidies, scheduled in August 2016, would negatively affect poor households, whose expenditure of electricity amounts to more than 5 percent of total consumption.
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