Revenue Committee: Largest shadow economy in Armenia is in retail trade

YEREVAN. – The 50 percent which the Prime Minister noted was the information of an international organization, so we may have an accurate assessment; we are working in that direction, said Davit Ananyan, Chairman of the State Revenue Committee (SRC) of Armenia, on Friday speaking with reporters.

He stated the aforesaid in connection with the remark that Prime Minister Nikol Pashinyan had announced that, according to international expert organizations, shadow economy reaches 50% in Armenia, whereas the SRC chief had stated that, according to the Statistical Committee of Armenia, it has dropped from 25% down to 22%, and when asked which indicator was closer to the actual picture.

As per Ananyan, international organizations issue various such indicators, the PM had voiced the view of one such organizations, but Armenia still needs to express its approach toward these assessments—and in terms of methodology.

The SRC chief noted that they are developing a methodology for assessing sectoral shadow economy in Armenia.  

Noting that the largest shadow economy in the country was in retail trade, Davit Ananyan added, however, that it is considerably much smaller in big supermarkets.