Armenia's minister of economy Gevorg Papoyan has announced the anticipated increase in Armenia's share allocated from the overall budget of the Eurasian Economic Union (EAEU), formed through customs duties.
According to Armenpress, this was revealed on Monday, March 25, during discussions in the National assembly's standing Committee on regional issues and eurasian Integration regarding the report on the implementation of the Armenian government's program for 2023.
"In 2023, Armenia contributed $473 million to the EAEU's general budget, while only $181 million was received. The negative balance amounted to $292 million," noted Papoyan.
Currently, a working group has been established on the Eurasian economic platform to develop and periodically review the methodology for calculating the norms for the distribution of import customs duties among the EAEU member states. The group includes representatives from the ministry of economy, ministry of finance, and the central bank of Armenia.
"It should be noted that in the event of a change in the methodology, Armenia's share will increase, reaching a maximum of 2.13% in the best-case scenario and 1.69% in the worst-case scenario. Currently, according to the formula, we receive 1.22%," explained the minister.
Papoyan expressed hope for such a change, but also highlighted that one of the options is the absence of any changes at all.
