By Alexander Tagvoryan

YEREVAN, August 3–In the second half of 2010, the average nominal monthly salary in Armenia will increase by eight percent.

This increase will be achieved due to the growth of salaries in the organizations with budgetary financing and private sector organizations, the program of the monetary policy of the Central Bank of Armenia (CBA) informs.

According to the forecast of the Central Bank, in the first quarter of 2011, a 10 percent increase will be recorded in the first half of 2011. By the end of 2010, a 6.9 percent reduction of unemployment (compared to the second half of 2009) is also expected in Armenia, which will increase the demand for labor.

In May, the average monthly salary in Armenia was 104,499 dram, which is 5.7 percent more than in May 2009.

Yerevan Report