ArmInfo. The main task of the Armenian government is to increase state competitiveness. This was announced on June 12 at the hearings in the parliamentary commission on economic issues by RA Deputy Minister of Finance Armen Hayrapetyan. According to him, in order to achieve the task, the executive body proposed a package of legislative changes in the Tax Code of the country. The Deputy Minister stated that over the past two years, the profitability of export-oriented companies is 8 percentage points lower than the profitability of companies targeting the domestic market. The difference in performance, according to the Deputy Minister, is very significant, which affects the investment flow. The task of the government, Armen Hayrapetyan continued, is to assist companies in enhancing export opportunities. The government of the Republic of Armenia forecasts that according to the developed macro model, in the long run, annual export volumes will grow by 0.8%, investment by 1.5%, with GDP y-o-y growth for the long term planned at least 0.8%. The government will also focus on exports and domestic investment.
On March 7, at the regular meeting of the Cabinet of Ministers, the Government of Armenia approved the draft "On amendments and additions to the Tax Code of the Republic of Armenia". As expected, following the adoption of the document in the long term, it will provide an additional 0.8 pp. GDP growth, additional consumption growth will be 0.3-0.4 percentage points, and employment - approximately 0.5 percentage points.