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WB: ARMENIAN GOVERNMENT SHOULD MAKE EVERY EFFORT TO RAISE TAX REVENUES
YEREVAN, January 11. /ARKA/. The key challenge of the fiscal policy
remains the ability to improve domestic revenue mobilization effort
and raise tax revenues, Jean-Michel Happi, the World Bank's Country
Manager for Armenia, said in an interview with ARKA News Agency.
This could be done through improvements of the tax administration and
streamlining of the tax policy. After massive counter-crisis expansion
in 2009, he said, the Government is left with a very little room for
fiscal maneuver, if required. To remain on debt-reducing path the
long-term fiscal deficit needs to remain below 3 percent of GDP.
"At the same time, the Government is facing the need to maintain
pro-poor expenditures and sustain public infrastructure to create
and support foundations for future economic growth," Happi said.
In the government budget, tax revenue is projected to make 21.88%
of GDP in 2013 against 17.36% in 2012.
The consolidated budget revenue is planned to total AMD 1 trillion
32.7 billion and expenditure AMD 1 trillion 152.5 billion. Deficit
is projected at AMD 119.7 billion or 2.6% of GDP. -0----
YEREVAN, January 11. /ARKA/. The key challenge of the fiscal policy
remains the ability to improve domestic revenue mobilization effort
and raise tax revenues, Jean-Michel Happi, the World Bank's Country
Manager for Armenia, said in an interview with ARKA News Agency.
This could be done through improvements of the tax administration and
streamlining of the tax policy. After massive counter-crisis expansion
in 2009, he said, the Government is left with a very little room for
fiscal maneuver, if required. To remain on debt-reducing path the
long-term fiscal deficit needs to remain below 3 percent of GDP.
"At the same time, the Government is facing the need to maintain
pro-poor expenditures and sustain public infrastructure to create
and support foundations for future economic growth," Happi said.
In the government budget, tax revenue is projected to make 21.88%
of GDP in 2013 against 17.36% in 2012.
The consolidated budget revenue is planned to total AMD 1 trillion
32.7 billion and expenditure AMD 1 trillion 152.5 billion. Deficit
is projected at AMD 119.7 billion or 2.6% of GDP. -0----