Armenian premier intends to follow Singapore’s example in combating shadow economy

Armenian premier intends to follow Singapore’s example in combating shadow economy

YEREVAN, May 22. /ARKA/. Armenian Prime Minister Hovik Abrahamyan, speaking Wednesday at a briefing in the National Assembly, said that he intended to follow Singapore's example in its crackdown on shady dealings.  

«Singapore prime minister, asked once how he has managed to achieve success in his crackdown on shadow, said that he has begun from own relatives and close associates, and I intend to do the same,» he said. 

The premier said the government will use all its levers to achieve success in combating shadow economy.

“When I say that we will start from people close to us I mean absolutely all of us must comply with new rules…” he said.

Abrahamyan said he also expects support from journalists. “If you hear that somebody’s friend or relative evade taxes, please inform us about this”, he said. “We will react to such reports and all other reports contributing to development of Armenia’s economy.”

On May 15, the prime minister met entrepreneurs and bankers, gave them time for going out of shadow and set the deadline, July 1, for doing it. 
According to the ombudsman’s report, shadow economy makes up 35 to 40 percent in the country. -0---

11:34 22.05.2014

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