2024-06-12 16:15:59
On account of the 44-day struggle operations of 2020, the conventional course of growth of the Artsakh economic system was severely affected, on account of which a decline was recorded in nearly all branches of the economic system.
In 2021, the gross home product decreased by 12.7 p.c in actual phrases, and the amount of business output decreased by 33.6 p.c in actual phrases in comparison with 2020.
In response to Armenpress’s inquiry, Vahram Baghdasaryan, Minister of Finance and Financial system of the Republic of Artsakh, famous that the most important decline was recorded within the agricultural sector, which was on account of the truth that about 75 p.c of Artsakh’s arable land and 85 p.c of pastures remained within the territories occupied by Azerbaijan. , a big a part of the orchards, in addition to about 90 p.c of the irrigated areas. The variety of livestock has additionally been lowered by greater than 50 p.c. The gross output of agriculture decreased by 51.1 p.c in actual phrases in comparison with 2020.
“The one sector the place there was development because the struggle interval is the development sector, which is as a result of large-scale housing tasks carried out by the state. In 2021, the amount of capital building carried out on the expense of all sources of financing elevated by 48.3 p.c in comparison with the earlier 12 months,” stated the minister.
The economic system of the post-war state. What issues does the businessman from Artsakh have at present?
On account of struggle operations and post-war processes, each the organizations working within the territories outdoors our management, in addition to nearly all different financial entities, suffered huge losses, not solely in materials kind, but in addition by way of useful resource provision and logistics.
In line with the minister, the present prime downside of the federal government is to revive the economic system in a brief time frame by making use of stimulating packages, the most recent applied sciences and efficient mechanisms that may present a possibility to make sure high-quality small-scale manufacturing capacities and enhance labor productiveness. “Specifically, it’s deliberate to implement tasks in agriculture, trade (mining, gentle and processing trade) and plenty of different sectors. Our aim is to create such an financial system that may generate all of the mechanisms by way of which it is going to be doable to unravel safety issues and guarantee steady enhance within the employment and welfare ranges of the inhabitants,” stated Vahram Baghdasaryan.
Small and medium enterprise actions in post-war Artsakh.
After the struggle, with a view to enhance the financial life and assist the SME sector, the federal government of the Republic of Artsakh carried out plenty of packages. Specifically, a weighty package deal of tax advantages has been initiated, which touches nearly all kinds of taxes, aimed on the doable reduction of the tax burden of enterprise entities.
Thus, till 2022, a lot of the taxpayers finishing up actions taxed on the price of 10 p.c had been exempted from paying revenue tax, and from 2023, the speed of revenue tax will likely be set at 5 p.c. In an identical means, particular person entrepreneurs had been exempted from paying revenue tax throughout the identical interval. Till 2026, the sale of agricultural merchandise produced within the Republic of Artsakh will likely be exempted from the worth added tax,” he stated.
Baghdasaryan added that the federal government of the Republic of Artsakh has additionally developed plenty of packages, due to which it’s doable to revive misplaced companies with preferential circumstances and direct assist from the state. Thus, a brand new program was launched in 2021, in keeping with which, inside the framework of the measure of state monetary assist for people and authorized entities who’ve suffered materials injury on account of the navy operations unleashed towards the Republic of Artsakh, a treasury promissory be aware is issued with a compensation interval of 5 years with an annual yield of seven p.c.
“Inside the framework of the present program, beneficiary authorized entities and pure individuals are given the chance to obtain the quantity indicated within the promissory be aware early from July 2023, in the event that they current a marketing strategy, which supplies a possibility to revive the prevailing enterprise or begin a brand new enterprise,” the minister famous, including that 2021 One other program launched in 2010 is the grant program for the promotion of innovation and entrepreneurship aimed on the growth of the three most necessary branches of the economic system: agriculture, processing trade and rural tourism, which goals to breathe new life into them by way of using modern approaches. “A complete of 36 purposes had been accepted inside the framework of this system, 12 of which had been associated to agriculture, 17 to processing trade and seven to rural tourism. Among the many new packages, throughout 2021, different SME assist packages working earlier than the struggle had been additionally continued. Thus, in 2021, inside the framework of the “Help to native producers” program, monetary assist was offered to plenty of industrial enterprises, specifically, “Metaxcombinat”, “Mkrtumyan”, “Haterk-Meals” with restricted legal responsibility and “Nice Companions” closed joint inventory firms. The participation of Artsakh firms in native and worldwide exhibitions has been ensured inside the framework of this system “Group and assist for the group of financial conferences and exhibitions, making certain the participation of the Republic of Artsakh in worldwide conferences and exhibitions”, Vahram Baghdasaryan emphasised, emphasizing that there are 3 SMEs inside the framework of this system working in 2021. monetary assist was offered to the topic to compensate for his or her participation in organized exhibitions and festivals, firm presentation and advertising bills. Inside the framework of the “Acquisition of software program and publishing companies” mission, in 2021, the event and printing of knowledge supplies on the actions of seven SME entities within the “Ranking” journal was organized.
In line with the minister, all of the above-mentioned packages and established tax privileges are geared toward facilitating the event of unhindered financial actions within the Republic of Artsakh.
“Taking up the vast majority of tax obligations, the state encourages the development of the enterprise setting in Artsakh and, most significantly, shares all doable dangers for traders. Emphasizing the position of small and medium enterprises within the growth of the nation’s economic system, creation of recent jobs, elevating the usual of residing of the inhabitants, forming the center class of the society, making certain social and political stability within the nation, the federal government takes steady steps within the course of state assist and growth of the sector,” he stated.
Issues associated to export and import and their options.
Talking in regards to the affect of current occasions on exports, Minister Baghdasaryan famous that, amongst different manufacturing belongings and full enterprises, sadly, Artsakh enterprises which have already gained recognition in international markets and have secure export volumes have remained beneath the management of the enemy. In some instances, exports have been quickly suspended on account of remedial work at producers.
“All this can’t fail to have an effect on the amount and construction of the nation’s exports, which has triggered new challenges of a special nature and requires using more practical state assist mechanisms for the promotion of native merchandise in international markets. On this regard, the Ministry of Finance and Financial system takes sensible steps to advertise the export of native merchandise and supply assist to producers, in addition to implements packages geared toward presenting the product vary of native producers in international markets,” stated Baghdasaryan, emphasizing the extra energetic use of digital platforms.
He added that it’s deliberate to make sure the participation of native producers in worldwide exhibitions and conferences within the close to future.
“Partial reimbursements of certification prices obligatory for export can even proceed. Nevertheless, along with export markets, it is usually necessary to boost the orientation of our compatriots in direction of native merchandise, in addition to the sale of those merchandise,” the minister emphasised.