The new Tax Code, initiated by the authorities of Armenia, will contribute to increasing transparency in tax collection; it will make the field more predictable and will reduce the risks of corruption, say authors of the draft Code, as well as representatives of international financial organizations.
The first smartphone made in Armenia, called the ArmPhone, went on sale this week. Various Armphone models were unveiled during a kick-off celebration on Monday held as part of a marketing campaign called “It’s Time for Armenian [products].”
This week, a bill on cancellation of debts arising from a default on tax obligations of the Hrazdan-Cement CJSC, was passed by the National Assembly at its special session on Wednesday, sparking a debate on the “squander” of public coffers.
Defeating the Purpose?: Minister suggests granting monopoly to sugar importation as part of anti-trust fight
The statement by Armenia’s Economy Minister Artsvik Minasyan about the possible official granting of a monopoly for sugar importation has deepened public skepticism regarding the government’s declared anti-trust and anti-corruption efforts.
The Public Services Regulatory Commission (PSRC) says it intends to reduce natural gas prices in Armenia in response to a request from provider Gazprom Armenia.
Although Russia has reduced the price of natural gas supplied to Armenia by 9 percent at the border, it is still unclear at what price the final consumers in the South Caucasus country will get it.
Senior National Statistical Service (NSS) official Gurgen Martirosyan, summing up price changes in the consumer market so far this year, said that after a high inflation in Armenia’s consumer market at the beginning of the year, “deflation trends” have appeared.
While Armenia’s government believes that a lowering of natural gas and electricity tariffs is going to take place soon, it is not yet clear to what extent it will impact the country’s economy.
The escalation of the conflict in Nagorno-Karabakh will have no negative impact on Armenia’s rate of economic growth, according to Economy Minister Artsvik Minasyan.
Armenian Prime Minister Hovik Abrahamyan has given the economy minister a month to develop guidelines with detailed description of importation procedures related to a number of essential goods whose trade in Armenia is perceived to be monopolized.