From tax cuts to equal business conditions: Economic highlights of campaign messages

Political parties and blocs running for parliament have already presented their campaign messages to voters.

Candidates for parliament have voiced their ideas and models for economic development.

Inclusive economy

Many of the candidates attach great importance to inclusive economy.

Lusavor Hayastan Party (Bright Armenia), in its campaigning message, has not only highlighted economic growth in numbers, but ensuring real economic development in terms of qualitative and inclusive growth. The party says that economic growth should be inclusive, so that all sectors of the society benefit from it.

The Republican Party too has attached importance to inclusive economic growth. They said that tackling all kinds of monopolies is a necessary, but insufficient condition for reaching the goal.

Im Kayl (My Step) bloc has also given key significance to ensuring inclusive economic growth, creation of jobs and overcoming poverty.

The ARF, known as Dashnaktsutyun, is highlighting that the economic growth and resulting economic results must be fairly distributed among all members of the society.

Tax cuts

Candidates suggest reducing taxes in various sectors.

Propserous Armenia Party is suggesting exempting investments for acquiring new generation technical equipment from all types of taxes, by ensuring competitive production and services, and high productiveness of work.

Sasna Tsrer (Daredevils of Sassoun) Party says it is time to consider granting a two-year tax holiday for SMEs, and applying preferential tax policy in the IT sector. They also consider the possibility of exempting the entire IT field from taxes.

National Progress Party proposes  cutting the types of taxes and the tax burden by several times especially for the middle class and SMEs, including to simplify the tax legislation, at the same time by only raising taxes in the mining sector, because they don’t view the sector to be a priority branch.

According to the ARF, a progressive tax policy is needed, based on the “more from more, little from little” policy. The ARF says that people making more money should pay more taxes, because that’s the method to eliminate the polarization of income and social injustice. They say that the logic should also apply for property tax and land tax.

Industrial development

Prosperous Armenia Party has attached importance that industrial and technological “smart” cities must be developed in the country that will operate within the law on industrial policy: in conditions of special tax procedures. They say that these tech zones will become scientific, industrial innovation centers.

The Christian-Democratic Revival Party wants to make Armenia an industrial country. According to the party’s president, Levon Shirinyan, if Armenia doesn’t transform into an industrial country then many problems won’t be solved. He highlighted the matter also in terms of repatriation.

National Progress Party said it finds the private industrial sector, except mining, to be a promising field for economic development.

My Step bloc has attached importance to ruling out any illegal use or abuse of natural resources in the mining sector, and minimizing negative environmental impact. The bloc said that single systems dealing with environmental monitoring, control and licensing will be introduced.

Orinats Yerkir (Rule of Law, or Country of Law) Party has pointed out that twenty major enterprises must be created, modernized or renovated for industrial development.

Ensuring equal conditions for businesses

My Step bloc said that ensuring equal conditions for business operators and equal rules of gameplay are among the most important factors for ensuring economic competitiveness. The bloc has highlighted that legislative amendments contributing to flexible mechanisms of taxations are possible.

Prosperous Armenia Party has said that elimination of illicit monopolies in imports should be followed by liberalizing trading networks, by ensuring equal conditions and opportunities for selling imported products.

The party suggests fundamentally revising the legislation on protecting economic competition, and also introducing a new anti-monopoly law.

The ARF argues that the combat against monopolies and unfair competition should be heightened by defining harsher liability systems and guaranteeing free access to the market. It says that businesses having monopolies or dominant positions should pay more taxes. It has also highlighted ensuring equal conditions for entrepreneurship.

Citizens’ Decision Party said that the economy must be built in a way to lead to justice and fairness of public relations.