Armenia’s membership in Eurasian economic union (EEU) will earn its budget additional $180 million, deputy finance minister says
10.11.2014,
15:32
The ministry of finance has calculated that Armenia's membership in the Eurasian Economic Union (EEU) will earn its budget additional $180 million or about 60 billion drams, first deputy finance minister Pavel Safaryan said in an interview with Novoye Vremya semi-weekly.
YEREVAN, November 10. / ARKA /. The ministry of finance has calculated that Armenia's membership in the Eurasian Economic Union (EEU) will earn its budget additional $180 million or about 60 billion drams, first deputy finance minister Pavel Safaryan said in an interview with Novoye Vremya semi-weekly.
He said if these $180 million were invested into the economy, they would secure a 1% increase in GDP or 14 billion drams in tax revenues.
Safaryan said Armenia and the Eurasian Economic Union still continued negotiations on a list of 800 items of imported goods for which Armenia wants to continue to levy its current import duties which are lower than the duties applied by the trade bloc.
He said when the final agreement were reached, the Armenian ministry would determine whether its revenues would increase or decrease.
On October 10 Armenia formally joined the Eurasian Economic Union of Russia, Belarus and Kazakhstan. A corresponding accession treaty was signed at a summit of the presidents of Armenia, Kazakhstan, Russia and Belarus in Minsk.
On November 14 Armenia's Constitutional Court will examine whether the treaty complies with the constitution. ($ 1 414.6 drams). -0-
