Big businesses account for 73% of Armenia’s GDP
30.03.2018,
15:50
Big businesses account for 73% of Armenia’s GDP, the chairman of the National Union of Employers Gagik Makaryan said today.
YEREVAN, March 30. /ARKA/. Big businesses account for 73% of Armenia’s GDP, the chairman of the National Union of Employers Gagik Makaryan said today.
He said unlike in the developed countries, in Armenia the largest contribution to GDP is made by big businesses, while the share of SMEs is only 27%.
He also said that SMEs are divided in turn into macro and micro businesses, which do not export goods.
"Big businesses also pay the bulk of taxes, and they are the largest exporters. However, the problem is that big companies dominate the market," said Makaryan. According to Makaryan, the government has a lot to do to get part of businesses out of the shadows.
According to the National Statistical Service, Armenian economy in 2017 grew by 7.5%. The country's GDP amounted to 5.580.1 trillion drams or about $11.5 billion (the exchange rate of USD in 2017 480.22 drams). -0-
He said unlike in the developed countries, in Armenia the largest contribution to GDP is made by big businesses, while the share of SMEs is only 27%.
He also said that SMEs are divided in turn into macro and micro businesses, which do not export goods.
"Big businesses also pay the bulk of taxes, and they are the largest exporters. However, the problem is that big companies dominate the market," said Makaryan. According to Makaryan, the government has a lot to do to get part of businesses out of the shadows.
According to the National Statistical Service, Armenian economy in 2017 grew by 7.5%. The country's GDP amounted to 5.580.1 trillion drams or about $11.5 billion (the exchange rate of USD in 2017 480.22 drams). -0-
