Taxpayers' consciousness will allow Armenia pay off debts
High tax assemblability will allow lowering of national debt index ratio against 2015-2016 GDP index to 30% level, WB Armenia country Manager Aristomene Varoudakis told a news conference. According to him, small national debt of Armenia at the time of crisis allowed RA government find necessary financing to support the economy.
RA's external debt will increase, as monetary resources were mobilized to overcome financial crisis consequences. In 2012-2013 external debt ratio against 2015-2016 GDP index will reach 45% level. Aristomene Varoudakis also added that according to WB forecasts, increase in tax payments, linked to restoring economy will enable repayment of external debt. "High tax assemblability rate will allow lowering of national debt ratio against 2015-2016 GDP index to 30% level," Varoudakis noted.
Still there are issues to be solved in tax administration and assemblability sphere. "Tax payers have to fulfill their tax obligations," WB Armenia country Manager emphasized.
RA's external debt will increase, as monetary resources were mobilized to overcome financial crisis consequences. In 2012-2013 external debt ratio against 2015-2016 GDP index will reach 45% level. Aristomene Varoudakis also added that according to WB forecasts, increase in tax payments, linked to restoring economy will enable repayment of external debt. "High tax assemblability rate will allow lowering of national debt ratio against 2015-2016 GDP index to 30% level," Varoudakis noted.
Still there are issues to be solved in tax administration and assemblability sphere. "Tax payers have to fulfill their tax obligations," WB Armenia country Manager emphasized.
