Aravot.am asked the Minister of Economic Development and Investments, Suren Karayan, who was representing the economic improved indexes whether he was familiar with the results published by the UN https://www.aravot.am/2017/10/17/914093/, which holds that in case the current economic and demographic tendencies continue in Armenia, until 2,5 million people will remain in Armenia instead of 3 million living today. Suren Karayan, who represented the annual results, noting that the GDP has grown by 5,9%, tourism by 24,3%, export by 21,7%, the investments have amounted to $1 billion and 24 million, replied he was sure that in 2035 we will have more immigration than emigration. “Our tendencies speak of the opposite. I mentioned in which fields we see development and what workplaces have been created, what projects are in place already been confirmed and how many new workplaces are going to be created. The activation of the economy will contribute to the growth of the living standards of our public and it will promote the growth of our population and we will have more immigration into the Republic of Armenia than emigration.”
Mr. Karayan was also asked whether the promises about investments made by wealthy Armenians in Russia during PM Karen Karapetyan’s meeting with the Moscow’s Armenian community reached Armenia, whether they are reflected in billion plus investments, the Minister explained that the wealthy Armenians of Russia have financed 2 projects with their “Club of Investments”, which has amounted to approximately $280 million. Asked – we have 5,9% economic growth but 15% decrease of profit tax, and merely 1,6% growth of income tax, Suren Karayan answered that if investments are made, then the cost part increases as amortization contributions through profit tax and the taxable profits decrease: “We should analyze to understand, paid amounts of profit tax have decreased, and then to be able to draw a conclusion.”
As regards the investments, the Minister informed that foreign direct investments amount to 1/3rd of total investments: “This means that investments have been made by foreign companies by more than 10% of the amounts of the shares stipulated in statutory capital of Armenian resident company.”
The Minister also explained that credits are similarly comprised within the investments, but what part of it they amount to, he did not give details on, he told they needed to analyze.
Lusine BUDAGHYAN
