OUR WORK - POVERTY REDUCTION
MORE ABOUT POVERTY REDUCTION
Armenia is a lower middle income country with medium human development index (HDI - 0.729). After a period of double digit economic growth of 12 percent between 2001 and 2007, the country was hit by the global crisis in the last quarter of 2008. As a result, GDP dropped by 14.4 percent in 2009.
The economic decline affected the poverty alleviation process and jeopardized the achievement of many of the national Millennium Development Goal targets.