ArmInfo. In the medium term, the tax policy of the Armenian Government will be aimed at revising the cost structure, emphasizing the need for capital expenditures to provide a stable basis for economic growth, RA Prime Minister Karen Karapetyan on October 30 at the hearings in the parliament of Armenia on the draft state budget of 2018. According to him, the draft state budget of 2018 is a rather voluminous document, and in the National Assembly, in particular, at meetings of permanent parliamentary commissions, its deep discussion is envisaged. Nevertheless, the head of the Armenian Government considered it necessary to dwell on the most important issues affecting the state of the country's economy. First, according to him, for several years the Armenian economy has been characterized by negative effects of external shocks, as a result of which a low level of economic growth has been registered, and the country's potential for economic growth has gradually decreased. Despite the fact that current developments are encouraging, Karapetyan continued, nevertheless, the foundations for economic growth are not yet on a strong basis to ensure a long-term high level of economic growth.
Secondly, the expenditure policy of the budget will be waited on with clear rules, at the center of which will be both ensuring economic growth, security of the country, and social orientation. This policy will ensure an increase in the attractiveness of the country, the formation of strong foundations for sustainable, long-term and safe development.
Thirdly, as the prime minister stressed, the tax policy of the government will be balanced, both in terms of reducing the shadow economy and improving the business environment. "It is important to form an effective tax policy that will ensure steady progress in GDP growth in taxes, as planned in the government program," Armenian Prime Minister noted.