Monday, October 30 2017 14:03
Alexandr Avanesov

Armenian Prime Minister: In the medium term, tax and credit policy of Armenian Government will be aimed at revising the structure of expenditures

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.

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