Prime Minister Nikol Pashinyan said at the Cabinet meeting on Thursday that he is unhappy with the results of combating the “enormous” shadow economy despite the growth in tax revenues and jobs.

Pashinyan said that 830,417 income-generating jobs were recorded in August 2026, 307,130 more than in August 2017.

Pashinyan drew attention to the fact that the highest figure was recorded in August, whereas in previous years higher figures had been recorded in other months.

According to data published by the State Revenue Committee, this year’s August figure was 37,320, or 4.7%, higher than the figure for the same month in 2025.

According to Pashinyan, compared to August 2017, the total wage bill increased by AMD 186 billion, or 208%, while the average salary increased by AMD 161,000, or 94%.

Over the same period, the amount of income tax paid increased by AMD 32 billion, or 144%, according to the Prime Minister. He stressed that this growth was recorded despite the fact that income tax rates were higher in 2017, while a flat rate is currently in effect.

Turning to budget revenues, the Prime Minister said that AMD 2.308 trillion in tax revenues had been collected in the first nine months of 2026. According to him, this is 14.7% higher than in the same period of the previous year and exceeds the nine-month figure initially projected in the budget by AMD 126 billion.

“This is a good indicator,” Pashinyan said, thanking taxpayers and the public servants involved in achieving the result.

At the same time, the Prime Minister addressed State Revenue Committee Chairman Eduard Hakobyan, stressing that the increase in collections is not sufficient grounds for being satisfied with the results of the fight against the shadow economy.

“We have an enormous shadow economy. I am not satisfied with the pace, scale, methods and effectiveness of our fight against the shadow economy,” he said.

Pashinyan said the government continues to discuss and implement measures to reduce the shadow economy. He said that starting January 1, 2027, the list of goods subject to marking is expected to be expanded, describing this as a step toward making the fight more effective.

The Prime Minister also linked the growth in tax revenues to economic activity. He said that the economic activity indicator stood at 5.2% in August 2026. Pashinyan highlighted growth in construction and activity in the real estate market.