Perspective development strategy for 2014-2025 envisages improved taxation and friendlier financial environment for SME- minister

Perspective development strategy for 2014-2025 envisages improved taxation and friendlier financial environment for SME- minister

YEREVAN, March 27. / ARKA /. The perspective development strategy for 2014-2025 approved today by the Armenian government envisages improved taxation and more friendly financial environment for small and medium businesses, economy minister Vahram Avanesyan told reporters after a regular cabinet session today. 

He said SMEs will get both financial and technical support. According to him, the strategy aims to increase the availability of funding for SMEs. It has 77 measures all designed to improve the business environment, promote competition, reduce informal sector and so on. 

It also takes into account all domestic and external risks, which "however, are impossible to predict and calculate.”

The minister said that the implementation of the strategy will require additional expenditures in the amount of 2-3 % of GDP.

"Budget expenses will increase by about two percentage points up to 2025, the deficit will fall from the planned 2.3% in 2014 to about 1.4 %,» he said, emphasizing that the strategy includes also other sectors - education , health, environment , culture and many others. -0-

18:57 27.03.2014

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