Nikol Pashinyan: "economic brotherhood" policy in Armenia will be  eradicated

ArmInfo. The " economic brotherhood " policy in Armenia will be eradicated. On February 13, the Prime Minister of the Republic of Armenia Nikol Pashinyan said  this from the rostrum of the parliament, answering a question from  the Prosperous Armenia Party faction Sergey Bagratyan.

According to the Prime Minister, previously the "good guys" were  sitting in the government of the country, who made decisions on  investments based on the brotherhood policy ("Akhperutyun"). "A  brother comes to his brother, he turned to another brother, and so  along the chain, until one is found who agrees to make investments,"  Nikol Pashinyan said, adding that the entire economy of the country  was based on a "brotherhood" policy. The new government, the Prime  Minister continued, intends to abandon this vicious practice, taking  on the basis of the ideas and investment mechanisms that the maximum  number of individuals and legal entities act as actors in the  economy. "It's not by chance that the authoritative magazine  Economist assessed the opportunities for investment in the country as  promising, which could be a signal for potential investors," Nikol  Pashinyan said. He added that in the near future a new Tax Code will  be submitted to the deputies' court, which provides for a reduction  in income tax rates from 36% to 23%, and in the next five years to  20%. All sorts of regulations will also be greatly simplified, which  will allow for investment. "An investment fund is being created that  will become " akhper "(brother, ed. note) for everyone," the head of  government joked. He also added that the application of the income  tax rate of 36% had practically no effect on "akhpers."