We Lowered the Rates with Caution: Sergey Bagratyan

Today, on December 3, during an extraordinary session of the National Assembly, MP Sergey Bagratyan addressed the issue of income tax increases.

"The way to increase revenues is through the influx of finance, which must be available in order for it to expand; in other words, the economy itself cannot develop without investment. For me, the development of the economy is important, as it will bring new jobs and growth in prosperity in the visible future. This means I want us to have an economic style that allows us to approach the truth. We lowered the rates with caution; I am speaking about 5.1%," Bagratyan said.

In response to Bagratyan's comments, Armenian Minister of Finance Vahe Hovhannisyan specifically said: "Revenues can increase when the productivity of our economy rises. In this direction, we need to make efforts next year in two areas: first, to enhance the productivity of existing expenditures, and secondly, to increase our revenues."