YEREVAN. – The tax service of Armenia can collect an additional $1.5 billion.

Chairman of the Republican Union of Employers of Armenia, economist Gagik Makaryan, stated the aforesaid at a press conference on Wednesday

Makaryan stated that according to various estimates, the country’s shadow economy makes up 30 to 50 percent, which totals approximately $4 billion, and therefore the respective taxes can amount to $1.5 billion.

“I believe that the re-created State Revenue Committee must take on this very function,” he added. “Filling the budget in this way is more realistic than by forcibly collecting fines.”

Upon President Serzh Sargsyan’s decision on March 1, the State Revenue Committee has been separated from the Ministry of Finance.