The Chairman of the State Revenue Committee (SRC) of Armenia Rustam Badasyan held a meeting with representatives of the construction industry, including leaders and members of the NGO "Armenian Builders Association" and companies within the association, to discuss existing problems and find solutions.
The event was also attended by Deputy Chairman of the State Revenue Committee Hamlet Sayakyan, as well as heads and specialists from the Committee’s structural divisions.
Rustam Badasyan emphasized the inadmissibility of certain negative phenomena in the construction sector, such as the non-declaration of apartment transfers, cash purchases, VAT refund fraud, and other abuses. He also noted that the growth rates in the construction sector in recent years have been the result of the efforts of economic entities and active support from the Government.
The Chairman of the SRC stressed the importance of joint cooperation and efforts in addressing the arising issues. During the meeting, industry representatives provided relevant observations and constructive proposals aimed at improving the situation in the construction sector.
BMG reports that the construction sector has been growing at an accelerated pace for several years and consistently contributes to the country’s economic growth. In May 2024, the main sectors contributing to the increase in economic activity compared to May 2023 included construction with an 18.1% growth, trade with 17.6%, industry with 6.9%, and the services sector with 2.8%.
