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Wednesday, August 23, 2017

Armenian President Sargsyan working to ensure stable economic development

Serzh Sargsyan, the president of Armenia, said in an interview with Armenian Public Television on Wednesday that the government will work to ensure the stable development of the economy and to ensure taxes are proportionate to GDP.

The country's economy is projected to grow 5.2 percent in 2014, according to the government budget. It is also expected to have a four percent inflation rate, plus or minus 1.5 percent, ARKA reports.

The country saw an increase in the tax-GDP ration between 2006 and 2013, rising from 16.2 percent to 23.4 percent, respectively. Armenia also experienced a reported increase in the average nominal monthly salary, up 1.5 percent between April and March, to $395 dollars.

"I already see signs of the government's future successful work," Sargsyan said, according to ARKA.