SHADOW ECONOMY IN ARMENIAN GDP IS ABOUT 20-25%: EX CB GOVERNOR SAYS
/ARKA/
November 4, 2011
YEREVAN
YEREVAN, November 4. / ARKA /. An impartial assessment of the economic
situation in Armenia suggests that the visible share of shadow economy
in the gross domestic production (GDP) is about 20-25%, former head
of the Central Bank of Armenia, Bagrat Asatryan, said today.
“This means that the Armenian economy has relatively large untapped
reserves,” he said at a press conference on Friday.
According to him, these reserves must be used to achieve the planned
increase in tax revenues next year.
According to 2012 draft budget, the share of taxes to GDP is projected
at 17.36%. Specifically, the government plans to increase tax revenues
by 101 billion drams.
From: Emil Lazarian | Ararat NewsPress
Disclaimer: This article was contributed and translated into English by Emil Lazarian. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
Direct link to this article: https://www.armenianclub.com/2011/11/04/shadow-economy-in-armenian-gdp-is-about-20-25-ex-cb-governor-says/
