Women in Armenia earn on average, from 25 to 30 percent less than their male counterparts engaged in the same work, according to a new report released today by the World Bank.

The “Armenia Country Gender Assessment” also found that women’s low level of participation in the labor market comes despite the fact that 68% of women are pursuing tertiary education, compared to 52% of men, and proposes actionable policy recommendations to drive systemic change.

“Armenia is foregoing important growth dividends by not encouraging more women to join the labor force. Achieving gender parity in labor force participation alone could increase Armenia’s level of GDP by 4 to 6%. Ensuring equal wages should be an essential part of a strategy that encourages women to enter the workforce. Today, women are paid only around 70% of the hourly wage paid to a man in the same occupation,” said Carolin Geginat, World Bank Country Manager for Armenia.

The report also highlights that men’s enrollment in higher education remains stagnant at around 44% (in contrast to 65% for women).

“Men are also affected by higher mortality. Despite potential economic gains from women’s participation in decision-making roles, women are still underrepresented, including in roles such as ministers, deputy ministers, and community heads. While women currently make up 35.5% of the National Assembly, still only 17% among ministers and 18% of deputy ministers are women,” the report reads.