The minimum monthly wage in Armenia is 107 USD. Armenia has a government debt of 13.22% of the country's Gross Domestic Product (GDP), as assessed in 2010. With regard to consumer prices, the inflation rate in Armenia is 6.2%. The currency of Armenia is Armenian dram. The plural form of the word Armenian dram is drams. The symbol used for this currency is ֏, and it is abbreviated as AMD. The Armenian dram is divided into luma; there are 100 in one dram. Each year, consumers spend around $6,946 million. The ratio of consumer spending to GDP in Armenia is 67.27%, and the ratio of consumer spending to the world consumer market is 2%. The corporate tax in Armenia is set at 20%. Personal income tax ranges from 24.4% to 36%, depending on your specific situation and income level. VAT in Armenia is 20%. In 2013, Armenia received 272.7 million USD in foreign aid.In 2014, the foreign aid amounted to 400.1 USD.
Gross Domestic Product The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Armenia is $21 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Armenia was last recorded at $7,099. PPP in Armenia is considered to be fair when compared to other countries. Fair PPP indicates that citizens in this country occasionally find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with fair PPP are relatively risky locations for investments. The total Gross Domestic Product (GDP) in Armenia is 10 billion. Based on this statistic, Armenia is considered to have a small economy. Countries with small economies generally support less industries and opportunities for investment. However, worthwhile investment opportunities may be found. The Gross Domestic Product (GDP) per capita in Armenia was last recorded at $3,519. The average citizen in Armenia has low wealth. Countries with low wealth per capita often have slightly lower life expectancies and lower quality of living among citizens. It can be difficult to find highly skilled workers in countries with low wealth, as it is occasionally difficult for citizens to obtain the requisite education needed for specialized industries. Labor can be found for low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Armenia averaged 3.2% in 2014. According to this percentage, Armenia is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly.