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The decline of Armenian exports remains concerning, economist Tadevos Avetisyan, Coordinator at Economic Research Office at ARF Bureau told a press conference on Monday.

In his words, the exports declined by 0,5% in first quarter of the ongoing year, and the growth of 3% was registered only in January-July. “This should be of concern since over the past two-three years we have recorded high index of exports. The growth of 3% against 20-25% of the previous years is not promising,” the economist said.

Tadevos Avetisyan, however, praised the recent amendments to the country’s Tax Code adopted by the National Assembly envisaging a return of more than 56 billion drams in VAT debit balances to businesses entities. As the speaker noted that amount subject to return will be mainly directed to exports. “It will have a positive impact on the exports growth. As the five-year program of the government envisages, our country should adopt an economic development model contribution to the exports growth. This move comes as the first step in this direction, and we hope these initiatives will be implemented in a more systematic way,” said Tadevosyan.