The war and coronavirus have left their mark on the economy. SRC Chairman Edvard Hovhannisyan noted that in March, several sectors of economic activity were restricted, and movement and other limitations were introduced, which inevitably had a negative impact on economic development; economic activity stalled, and furthermore, regressive developments were recorded.

“Back in 2020, GDP recorded a negative figure of 5.7%, without taking into account the impact of price changes. Nevertheless, particularly as a result of the social measures undertaken by the government, it was possible to slightly mitigate the negative economic rates and, thanks to that, maintain a certain level of economic stability, which in turn allowed for the avoidance of deep shocks.

Data for the 10 months of the current year have been summarized; we have 1 trillion 134.8 billion drams in tax collections in terms of total revenues. The section for tax and duty collections amounts to 1 trillion 19 billion drams, a figure that exceeds the comparable indicators of 2019 by 13.1 billion drams. This result was achieved thanks to targeted administration, the continuous fight against the shadow economy, and the increased discipline of taxpayers,” said Hovhannisyan.

The full interview with SRC Chairman Edvard Hovhannisyan is in the video.