YEREVAN, October 30. /ARKA/. The Armenian government should intensify tax inflow at the account of large businesses and by lessening shady dealings, Gagik Makaryan, the chairman of the National Union of Employers of Armenia, said Wednesday at a news conference.
“The government has said it intends to increase tax revenue without tax burden and without additional administration,” he said. “It means the government should concentrate its efforts on searching for sources from which the money will come. I think it should be done at the account of large businesses and by launching a crackdown on shadow dealings.”
Makaryan said that budget revenue growth is projected to grow by AMD 34 billion in 2014.
In his opinion, growth in some segments of the national industry may contribute to the revenue growth as well.
He said he saw no progress in government procurement and also voiced concern over the growing foreign debt, which grew by $168 million in the second quarter alone. Some 38% of public debt is owned by government institutions and agencies.
He added that it is not known yet how the government will put things right the next year and expressed fear that the promised increase in salaries will make this debt larger.
According to the central bank, the country’s foreign debt shrank 4.5% in the first half of this year to $3713.5 million.
In the 2014 draft consolidated government budget, revenue is projected at AMD 1 trillion 134 billion, spending at 1 trillion 244 billion and deficit at AMD 110 billion.
GDP growth is projected at 5.2% and a 12-month inflation rate at 4% (±1.5%). ($1 – AMD 405.3). .----0---