Finance Minister: shadow economy in Armenia ranges from 25 to 45%

11.12.2009 16:42
Finance Minister: shadow economy in Armenia ranges from 25 to 45%

YEREVAN, December 11. /ARKA/. Shady dealing in Armenia’s economy ranges from 25 to 45%, depending on method of calculation, Finance Minister Tigran Davtyan said Thursday in National Assembly.

He said that increase of tax inflow ratio to GDP will make it possible to reduce shadow economy in the country.

Under the 2010 state budget, the ratio will rise 0.6% to 17.7%.

It is planned to attract additional 20 to 25 billion drams to the state budget.

The government expects that AMD 570 billion will be transferred to the state budget as taxes.

This amount constitutes 17.7% of GDP. ($1=3AMD 83.9) --0--


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