YEREVAN. – Next year the government of Armenia is planning a GDP growth of 5.2 percent; this forecast is at the basis of the draft 2014 State Budget.   

Finance Minister Davit Sargsyan stated the above-said during Saturday’s special Cabinet session. 

In addition, the share of the taxes and the duties in the GDP is expected to make up 23.1 percent, and the deficit, 2.3 percent.

In this connection, PM Tigran Sargsyan stated that the economic indicators are getting worse in the developing countries and this, as per Sargsyan, could have a significant impact on Armenia. 

“The private investments are reducing in recent years, [and] therefore we need to think about improving the business climate and spreading out the tax burden correctly so that the tax burden does not increase,” the PM said, in particular.     

Tigran Sargsyan added that Armenia is starting its accession to the Customs Union, which creates a new climate, but it should be seen to it that the transition would be smooth.