The IMF mission completed the review of the macroeconomic situation in
Experts of the international organization recommended the Cabinet to take measures in four areas. First and foremost, increase tax collection by limiting exemptions, which are quite high in
The second sphere is the payroll fund. It should also be cut.
At present, the payroll fund reaches 9.5 percent of GDP. This is one of the highest indicators in the Central Asian region.
«The authorities have already prepared a plan to curb the growth of the payroll through various reforms. The third area where changes are needed is the volume of subsidies. Discussions on this issue continue. Another area that requires special attention is the improvement of the social protection system, so that assistance is more targeted,» Edward Gemayel said.
At the same time, discussions on all groups of issues between the government of
«These policy measures, both one-time and permanent, affect the state of budget. If not to take action, they can affect the sustainability of the debt situation and the budget. So now we are discussing possible actions with the government. We hope that an agreement will be reached next week,» Edward Gemayel concluded.