“Zhoghovurd” reports that even some deputies from the ruling Republican Party (HHK) and its junior coalition partner, the Armenian Revolutionary Federation (Dashnaktsutyun), criticized the government’s controversial Tax Code during parliamentary debates that ended on Tuesday evening. “That legislation could prove disastrous for Armenia’s economy,” alleges the paper. “It envisages tax rises, more complicated tax administration and expansion of the system of fines and penalties for business entities. If this code is passed and enforced it could cause severe damage to Armenia’s economy which is already in crisis.” The paper claims that the government wants to “sacrifice” the economy for the sake of short-term increases in tax revenue.
“It looks like the new tax legislation is indeed a disgrace,” writes “Chorrord Ishkhanutyun.” “This is so evident that resistance against it is brewing even in the government and in circles close to the government.” The paper too notes that some HHK lawmakers have openly objected to the Tax Code.
“Haykakan Zhamanak” reports on a renewed decrease in international oil prices, saying that it could hurt Armenia by further suppressing remittances from Armenian migrant workers in Russia. The paper says that in recent days the Russian national currency, the ruble, has weakened against the U.S. dollar by 3.5 percent. “Government officials in charge of the economy say privately that since the government is not taking real steps to modernize our economy and stimulate business the economic situation can only improve thanks to rises in the remittances and the prices of copper,” it says.