Finance minister expects 25 billion drams to come out of ‘shadow’

29.12.2009 19:53
Finance minister expects 25 billion drams to come out of ‘shadow’

YEREVAN, December 29, /ARKA/. Armenian finance minister Tigran Davtian said Monday he expects 25 billion drams to come out of ‘shadow’ next year.

Speaking at the final yearned news conference he said the government will have to raise the taxes to GDP ratio to 17.7% next year, which will be significantly higher than this year’s ratio.

According to the official figures of the ministry of finance, the government expects to collect at least 520 billion drams in tax revenues this year, substantially down from 2008, when it collected 615 billion drams, but higher than in 2007 when tax revenues totaled 508 billion drams.($1 – 377.32 drams). -0-


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