Armenia's shadow economy to reduce by 3 percentage points in 2019, Nikol Pashinyan
16.09.2019,
15:35
Armenia's shadow economy will reduce by 3 percentage points in 2019, Armenian Prime Minister Nikol Pashinyan said at a press conference in Vanadzor on Monday.
YEREVAN, September 16. /ARKA/. Armenia's shadow economy will reduce by 3 percentage points in 2019, Armenian Prime Minister Nikol Pashinyan said at a press conference in Vanadzor on Monday.
He said a set of measures enforced by the government in 2018 and 2019 to improve tax administration have already cut the share of shadow economy and in 2019 the ratio of taxes to GDP will increase by 1.3-1.5 percentage points to 22.5%.
Pashinyan said this opens up the opportunity for the government to "return old debts, increase capital investments and gradually increase salaries and pensions."
In this regard, the head of government referred to an IMF recommendations that if the ratio of taxes to GDP in annual terms increases, for example, by 0.3%, that would be a very good result.
"In 2019 alone, the ratio of taxes to GDP is set to grow by 1.3-1.5 percentage points, that is, the pace will be 4 times higher," he explained.
The government's projection of GDP for 2019 is 4.9%. The inflation is forecast at 2.7%. -0-
He said a set of measures enforced by the government in 2018 and 2019 to improve tax administration have already cut the share of shadow economy and in 2019 the ratio of taxes to GDP will increase by 1.3-1.5 percentage points to 22.5%.
Pashinyan said this opens up the opportunity for the government to "return old debts, increase capital investments and gradually increase salaries and pensions."
In this regard, the head of government referred to an IMF recommendations that if the ratio of taxes to GDP in annual terms increases, for example, by 0.3%, that would be a very good result.
"In 2019 alone, the ratio of taxes to GDP is set to grow by 1.3-1.5 percentage points, that is, the pace will be 4 times higher," he explained.
The government's projection of GDP for 2019 is 4.9%. The inflation is forecast at 2.7%. -0-
