The nominal average salary in Armenia increased by 6.6% during the first nine months of 2024, reaching $708, Minister of Finance Vahe Hovhannisyan announced at a meeting of the Parliamentary Commission on Financial, Credit, and Budgetary Affairs.
A significant disparity between the public and private sectors was noted. While the average salary in government institutions stood at $548, it reached $770 in the private sector, the minister stated.
The number of officially employed citizens grew by 5% from January to September 2024, reaching 752,288. Employment growth was primarily observed in trade, education, and construction sectors.
The highest salaries in September 2024, according to the Ministry of Economy’s report “Armenia: Economic Outlook”, were earned by employees in information and communication ($2,111), financial and insurance sectors ($2,044), and mining ($1,209).
Compared to September 2023, the most significant salary growth was recorded in the financial and insurance sector (up by 40.4%), agriculture, forestry, and fishing (up by 13.5%), and manufacturing (up by 13.1%).
However, some industries experienced a decline in average salaries, particularly in information and communication, construction, and the energy sector.
