YEREVAN, June 18, /ARKA/. Aristomene Varoudakis, head of World Bank Yerevan Office, said today Armenia’s informal or shadow economy’s share may stand at 35-40%. he, however, added that his assessment is based on opinions of some analysts.
‘Taking the shadow economy to the net is a serious task that will help the government increase budget revenue collection,’ he said speaking at a news conference today. He then added that that in turn would help the government implement its social expenses. He also said if companies working in shadow are brought to the net, they would have bigger development opportunities.
“Besides, people engaged in shadow businesses Would be protected,’ he explained. -0-
