The shadow economy has decreased over the past three years
The shadow economy has decreased over the past three years. In 2022, the gap for the main tax categories—including value-added tax, profit tax, and income tax—stood at 3.06% of GDP, which represents an improvement of 0.5% compared to the previous year. Rustam Badasyan announced this during the discussion of the draft state budget for 2025.
In our country, the shadow economy is so pronounced that we do not look at the budgetary expectations for the given year. The shadow economy is particularly evident in several sectors. It is our duty not only to solve fiscal problems but also to ensure that if we do not implement our governance across all sectors and actively fight against the shadow economy, it will disrupt competition in various markets. Work in this direction will continue, – Badasyan stated.
The number of jobs has also increased, reaching about 168,000. This figure is 5.9% higher than the previous year’s figures. The tax-to-GDP ratio is expected to rise from 22.6% in 2022 to 25% based on the results for 2025.