Armenia’s shadow economy smallest in the region, says IMFFebruary 16, 2018 - 14:49 AMT PanARMENIAN.Net - The size of the shadow economy in Armenia in 2015 was smaller than those of the country’s South Caucasus neighbors - Azerbaijan and Georgia - a new report by the International monetary Fund published on january 24 reveals. According to the survey titled “Shadow Economies Around the World: What Did We Learn Over the Last 20 Years?”, Armenia’s shadow economy was estimated to be 36% in 2015, against the 43.6% in Azerbaijan and 53% in Georgia. New results on the shadow economy for 158 countries all over the world are presented over 1991 to 2015. The largest ones are Zimbabwe with 60.6%, and Bolivia with 62.3% of GDP. The lowest ones are Austria with 8.9%, and Switzerland with 7.2%. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Turkey extends military presence in Azerbaijan The Turkish parliament has adopted a bill submitted by Recep Tayyip Erdogan to extend the mandate of Turkish troops. Russia to begin assessing migrant workers' speaking skills Rosobrnadzor is planning to change the Russian language exam for migrant workers and include an assessment of speaking skills Armenian, Saudi Foreign Minister meet in Riyadh The two commended the positive dynamics of the development of political dialogue between Armenia and Saudi Arabia Pashinyan: Azerbaijan’s proximity shouldn’t worry border residents At the same time, he said that he “does not guarantee [the security of villagers] one hundred percent”. |