New law poses serious risk for investors - says economist
2015 will be a crucial year for the Armenian economic market, economist Artak Manukyan told reporters on January 31. The year will be especially severe for small and medium-sized businesses. His assessment referred to the traders who have been staging a series of protests in Armenia against the controversial law on sales tax which comes into effect on February 1. The economist says the law poses a serious risk even for investors. “Until recently, business relationships have been transparent for them; everything will be much more complicated after the law enters into force. I would be glad if traders had an alternative option, as the prime minister said yesterday,” said Mr Artak Manukyan. The economist says retailers in Armenia are facing serious problems today. This is also evidenced by the international reports published in 2013 which say that about 18 percent of retailers in Armenia have been driven out of the field. “Since we joined the Eurasian Economic Union we have been taking up new challenges. We could have supported our traders instead of drafting new laws for them. I think the protests can develop into a wave of revolt as political forces are joining the protesters, trying to receive dividends. If the government shows a balanced approach to the problem and makes compromises, I think things will not go that far,” he said.
