RA Central Bank President Artur Javadyan is one of the highest paid officials in Armenia.
In 2011, his salary amounted to 27,754,356 AMD. That works out to 2,312,863 a month ($5,768).
Let’s put this in some perspective. President Sargsyan is paid 400,000 AMD per month in salary.
According to Javadyan’s 2011 financial disclosure, he had overall revenues of just over 39 million AMD, $76,267, and 1,514 Euros.
At the beginning of the year, Javadyan had 257 million AMD, $305,000, and 192,000 Euros in the bank.
The Central Bank president purchased a 1,455 square meter house for 105 million AMD in 2011.
Javadyan’s wife Hasmik Manoukyan doesn’t lag far behind financially.
In 2011 she declared revenues of 44.392 million AMD, $557, and 5,121 Euros. Her wages for the year only amounted to 4.659 million AMD. 16.813 million AMD was derived from rental income.
At the start of the year, Hasmik Manoukyan had 217.3 million AMD, $305,000 and 335,000 Euros stashed away in various bank accounts.
Talk about the growing levels of income disparity in Armenia.
Talk about the recent government bill, passed by the National Assembly, raising the minimum wage by 2,500 AMD to 35,000 a month.
Let me do the math for you readers. That’s a $6.20 increase in the minimum wage.
35,000 AMD per month works out to roughly $87.28, an amount the ruling government says argues is a step in the right direction and it’s all the government can afford right now.