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 | Ruling MP accuses opposition of “serving other countries' interests” Khachatur Sukiasyan has accused Armenia’s opposition of serving the interests of other countries Protest leader vows to achieve departure of Armenian authorities According to Archbishop Bagrat, there is only one solution to the situation in Armenia. Heads of Armenian, Ukrainian parliaments hold virtual talks Alen Simonyan and Ruslan Stefanchuk held talks via video conference on Tuesday, May 21. Pashinyan travels to Iran to pay tribute to Raisi, others Prime Minister Nikol Pashinyan has left for the Islamic Republic of Iran on a working visit. |