High rates of tax collection will continue to be ensured by reducing the shadow economy, said Chair of the Central Bank of Armenia Arthur Javadyan.

According to him, state budget expenditures will increase in relation to GDP by 2 % in connection with the projected significant increase in capital expenditures.

“Capital expenditures will increase by 2.2 % and will amount to 5% of GDP. Although public debt will continue to decline by 2020, the share of services will remain high. In this case, it is important to improve the debt structure, in particular, to replace external debt with domestic debt,” he said.