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Sanctions Are Already Affecting Armenian Economy
Lragir.am
Country - 03 September 2014, 23:26
The deputy minister of finance Pavel Safaryan told reporters during
the parliamentary briefing that the estimated tax collections were not
delivered because the estimated economic growth was not delivered.
"The rate of economic growth which we had envisaged by the annual
program [has not been achieved], as of today, we are behind the
forecast. The reasons are many, mostly slow economic growth in
countries around us, namely Russia's economy," he noted.
Pavel Safaryan said Prime Minister Hovik Abrahamyan's anti-shadow
program has a positive impact on tax collections. Without this
activity tax collections would have been lower.
"There is no need to dramatize. What has happened? The government had
forecasted 1,097,000,000,000 drams of revenues and allocated it by
quarters. This is the problem of the government and now deviation of
about six billion from that allocation has occurred. This deviation
could be restored within several months if economic growth is
improved. It may increase a little more if the rate of economic growth
is not sufficient. We have envisaged a 5.2% increase of GDP, if the
end-of-year output is below 5.2%, we will have insufficient tax
collections," the deputy minister said.
In answer to the question what awaits the economy of Armenia if it
joins the Eurasian Union, Pavel Safaryan said whether or not Armenia
joined the Customs Union, economic relations with Russia would
continue anyway. Whether or not Armenia joins the Eurasian Union,
economic developments in Russia will affect Armenia's economy.
In regard to sanctions against Russia, the deputy minister said they
will have both positive and negative impacts on Armenia's economy. "If
some goods are not allowed into the Russian market, we will integrate
with that market more easily. I mean processed food. The companies
which export goods said during the latest meeting with the prime
minister that there is no problem with quantities of sales on the
Russian market. This is a big advantage, it simply needs to be
organized better."
http://www.lragir.am/index/eng/0/country/view/32929#sthash.SAs9gI5p.dpuf
Lragir.am
Country - 03 September 2014, 23:26
The deputy minister of finance Pavel Safaryan told reporters during
the parliamentary briefing that the estimated tax collections were not
delivered because the estimated economic growth was not delivered.
"The rate of economic growth which we had envisaged by the annual
program [has not been achieved], as of today, we are behind the
forecast. The reasons are many, mostly slow economic growth in
countries around us, namely Russia's economy," he noted.
Pavel Safaryan said Prime Minister Hovik Abrahamyan's anti-shadow
program has a positive impact on tax collections. Without this
activity tax collections would have been lower.
"There is no need to dramatize. What has happened? The government had
forecasted 1,097,000,000,000 drams of revenues and allocated it by
quarters. This is the problem of the government and now deviation of
about six billion from that allocation has occurred. This deviation
could be restored within several months if economic growth is
improved. It may increase a little more if the rate of economic growth
is not sufficient. We have envisaged a 5.2% increase of GDP, if the
end-of-year output is below 5.2%, we will have insufficient tax
collections," the deputy minister said.
In answer to the question what awaits the economy of Armenia if it
joins the Eurasian Union, Pavel Safaryan said whether or not Armenia
joined the Customs Union, economic relations with Russia would
continue anyway. Whether or not Armenia joins the Eurasian Union,
economic developments in Russia will affect Armenia's economy.
In regard to sanctions against Russia, the deputy minister said they
will have both positive and negative impacts on Armenia's economy. "If
some goods are not allowed into the Russian market, we will integrate
with that market more easily. I mean processed food. The companies
which export goods said during the latest meeting with the prime
minister that there is no problem with quantities of sales on the
Russian market. This is a big advantage, it simply needs to be
organized better."
http://www.lragir.am/index/eng/0/country/view/32929#sthash.SAs9gI5p.dpuf