Poverty rate in Armenia drops to 23.7% in 2023

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YEREVAN, July 11. /ARKA/. The poverty rate in Armenia, calculated according to the median line, was 23.7% in 2023, down from 24.8% in the previous year, marking a 1.1 % decrease, according to a report published by the National Statistical Committee of Armenia on Thursday./pp

Since 2019, Armenia's poverty rate has been calculated using a revised World Bank methodology. The documented poverty line in monetary terms reflects the cost of goods and services (both food and non-food) necessary for a minimum standard of living in the country./pp

The report indicates that urban poverty stood at 21.5% in 2023 (22.1% in 2022), with extreme poverty at 0.5% (1% in 2022). Rural poverty was 27% (29% in 2022), with extreme poverty at 2% (1.5% in 2022)./pp

Extreme/food poverty in 2023 was 1.1% (1.2% in 2022), the lower poverty line was 9.7%, and the upper poverty line was 42.6%./pp

The Gini coefficient, a statistical measure of income inequality, decreased from 0.239 in 2022 to 0.230 in 2023 for consumption and from 0.352 to 0.348 for income./pp

The report also includes data on child poverty. Extreme child poverty was 1.8% (1.9% in 2022), poor children made up 31.7% (32.3% in 2022), and non-poor children were 68.3% (67.7% in 2022)./pp br/p