The international press continues praising the Armenian government’s economic policy and reforms, Prime Minister Nikol Pashinyan said in a Facebook post.
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His comments came in response to a Reuters article about “the new-found appeal of the tiny ex-Soviet republic among investors hungry for yield in a world of negative interest rates”.
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“Alongside the country’s new political image, a new economic image is emerging, proving Armenia as an attractive country for investments, which attracts international investors,” Pashinyan wrote.
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Economic growth in Armenia picked up to 6.5% in year-on-year terms in the second quarter of 2019. This week the central bank raised its GDP growth forecast for this year to 6.9-7.1% from 4.9% due to the strength of both manufacturing and services.
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Next year Armenia will cut corporate tax to 18% from 20%, introduce a flat-rate income tax of 23% and will hike tobacco and alcohol duties. Private firms with a turnover of less than $50,000 a year will benefit from zero taxes.
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H/T PanArmenian