Shadow economy in Armenian GDP is about 20-25%: ex CB governor says
04.11.2011,
23:16
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.
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. -0-
"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. -0-
