WB EXPERT: IMPROVEMENT OF TAX ADMINISTRATION WILL ALLOW ARMENIA TO REDUCE ITS FOREIGN DEBT TO 30% OF GDP BY 2015-2016
ArmInfo
2009-07-29 19:31:00
ArmInfo. The improvement of tax administration will allow Armenia
to reduce its foreign debt to 30% of GDP by 2015-2016, Head of the
Yerevan Office of the World Bank Aristomene Varoudakis said during
a press-conference today.
As a result of the mobilization of the existing and planned loans the
foreign debt of Armenia may grow to 45% of GDP by 2012-2013. However,
n the coming years the Armenian economy will recover, tax revenues
will grow and this will allow Armenia to service its national debt
more effectively. Much depends on what the country will do to improve
tax administration and to prevent tax evasion.
The money borrowed by Armenia this year is enough for covering the
budgetary deficit 2009 and financing the deficit 2010. This year the
inflation will not exceed 3%. In 2010 much will depend on external
factors, like fuel prices. Next year the economic recovery rate will
be slow. Consequently, the inflation will be low.
From: Emil Lazarian | Ararat NewsPress
