Time in Yerevan: 11:07:36,   5 August

PM Pashinyan presents conceptual provisions of economic revolution

PM Pashinyan presents conceptual provisions of economic revolution

YEREVAN, JULY 20, ARMENPRESS. Prime Minister of Armenia Nikol Pashinyan presented the conceptual provisions of the economic policy of the Government, which he called conceptual provisions of the economic revolution, ARMENPRESS reports Pashinyan talked about this on July 20 at ''My step for Shirak'' investment-business forum at Gyumri Technology Center.

''I think Shirak business forum is a very good opportunity in order 1 year after the famous developments I speak about some conceptual approaches of the economic policy of the Government and virtually I have to call these conceptual provisions conceptual provisions of economic revolution, which we will sum up in the near future and present as a full strategy of how we see Armenia's development and how we see the economic system of Armenia'', Pashinyan said.

The PM said that at this stage they have already managed to make an important step by carrying out amendments in the tax code, emphasizing that by the new tax code they established a new business layer, called microbusiness and starting from January 1, 2020 companies engaged in some particular activities with annual turnover under 24 million AMD will be exempted from all types of taxes. Besides, the people employed in those companies will not pay 22% profit tax as other do, but just 5000 AMD. ''We attach great importance to this for fostering business activities among our citizens. This is the support of the Government to the citizens of Armenia and a call addressed to them to finally carry out some activities, and we see this policy as a very important tool for overcoming poverty'', PM Pashinyan said.

“My step for Shirak region” business forum, initiated by the Government of the Republic of Armenia, aims to create a platform, which will promote the development of the economy and the communities of Shirak region through multilateral collaboration among local and foreign businesses.

50 foreign and 150 local businessmen are present at the forum.

Edited and translated by Tigran Sirekanyan



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