Shadow Economy Data to be Issued

YEREVAN (Noyan Tapan)–The Ministry of Finance and Economy will have finished estimating the shadow sector of economy in Armenia by the end of 2001. Similar work is being done by the National Statistical Service of Armenia. Deputy Minister Tigran Khachatrian said that this work aims to find out the influence of the shadow sector on the level of tax collection. According to independent experts–the shadow sector makes up 30-35 percent of the total economy of Armenia. The taxation makes up 18.5 percent of the GDP.

According to Khachatrian–besides taking separate companies out of shadow–it is also necessary to try to create conditions which would promote the reduction of "the shadow sector."

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