On December 4, the Statistics Department of the Eurasian Economic Commission noted that Armenia registered the highest growth of salaries in the Eurasian Economic Union for January-September 2023 (to the corresponding period of 2022). 

Real (cleared of inflation) wage growth in Armenia amounted to 13.4%, in Kyrgyzstan - 10.7%, in Belarus - 10.1%, in Russia - 7.4% and in Kazakhstan - 0.9%. In nominal terms, wages grew the most in Kazakhstan and Kyrgyzstan, but two Central Asian republics registered high inflation (so, in Kazakhstan, 12-month inflation in September amounted to 11.8%). Meanwhile, in Armenia, inflation is eating into wages less, as it remains low in Armenia. The country's 12-month inflation rate is expected to be slightly below the 4% target.

Salaries in Armenia have risen due to the influx of re-locates (mainly from Russia, many of them in the IT and financial sectors, i.e., high-paying industries), as well as increased demand in the local consumer and service sectors.