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Armenia's Shadow Economy Is 44.6% - Opposition Mp

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  • Armenia's Shadow Economy Is 44.6% - Opposition Mp

    ARMENIA'S SHADOW ECONOMY IS 44.6% - OPPOSITION MP

    news.am
    October 30, 2012 | 14:45

    YEREVAN. - The shadow economy in Armenia is 44.6 percent, opposition
    Armenian National Congress MP and former PM Hrant Bagratyan stated
    Tuesday at the National Assembly basing himself on the data by Amnesty
    International human rights NGO.

    In addition, as per Bagratyan, in the case when Armenia was ranked
    110th from among 138 countries five years ago, in terms of the level
    of shadow economy, now, the country is ranked 129th. And as proof of
    Armenia's growing shadow economy, the MP also pointed to the reduction
    in the ratio between state income and GDP.

    In response, Finance Minister Vache Gabrielyan noted that, owing to
    the changes in tax legislation and the administrative measures being
    taken, the state budget revenues cannot drop and added that the tax
    revenue's share in GDP has increased.

    And with respect to Amnesty International's assessment, Gabrielyan
    joked that shadow economy evaluations cannot have a decimal-degree
    of accuracy.

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