Prime Minister: We are discussing the possibility of returning around 56 billion drams of debit balances to businesses

The Prime Minister of Armenia, Nikol Pashinyan, made a post on his Facebook page, informing about the discussion of an interesting economic proposal:

“We just finished discussing an unprecedented economic proposal. Thousands of companies have debit balances of value-added tax (VAT), which were accrued before July 1, 2017. To elaborate, these are the amounts that the state owes to businesses in terms of VAT, affecting around 9,000 economic operators.

The unprecedented nature of the proposal, one could say its revolutionary aspect, lies in the fact that we are discussing the possibility of returning approximately 56 billion drams of debit balances to businesses. The essence of the proposal is that the businesses, which have long lost hope of recovering these amounts, will reinvest them back into our economy. In essence, this represents a state injection of more than 100 million dollars into the economy, which has no precedent in the history of our country,” he wrote.