ArmInfo. In Armenia, industrial growth continues to lag behind growth in economic activity. This is stated in the study of the "Luys" Foundation, which used the data published by the Statistical Committee of the Republic of Armenia for the year 2023 in its analysis of the socio-economic developments of the RA economy in January 2023.
According to these data, in January 2023, the pace of industrial growth c ontinued to lag the growth of economic activity, worsening the structure of the economy. In January 2023, industrial growth was only 1.4%, and the pace of economic activity - 10.5%. "This means that the share of industry in the structure of the economy has decreased, which in the long term will negatively affect the economy and may lead to a decrease in its potential," the Foundation's study says. Tax growth also lagged behind economic growth. The growth of tax revenues in January 2023 was 15.3%.
Taking into account the nominal growth of economic activity, considering the inflation rate, it would be 19.5%. <Of course, it is difficult to judge tax revenues from one month's data, since taxes formed in January are mainly paid in February (in addition, there is also a change in the legislation related to export duties). However, taking into account the fact that in 2022 the tax/GDP ratio did not improve, amounting to 22.7%, it is doubtful that the ratio of taxes to GDP established by the RA government by 2026 will be at least 25%. To achieve the planned indicator, it is necessary to constantly improve both tax legislation and administration, which will ensure the outstripping growth of tax revenues compared to the economy, and fulfill the government's program>, the message says.
