From the operation of the Amulsar program, according to the Government’s calculations, the annual taxes and duties to be paid to the state budget will total 130 million dollars.
The program may also have an annual positive impact of about 1.5 percent on Armenia’s gross domestic product.
RA economy minister Gevorg Papoyan stated this during the launch ceremony of the operation of the Amulsar mine.
According to the minister, more than 750 million dollars has been invested in the program, while in the operation phase production of more than 210 thousand ounces of gold is planned.
“By our calculations, taxes, duties, payment to the state budget alone will be 130 million dollars. And in addition, of course, the Government owns 12.5 percent in this program, that is, we have a share. This is also important,” Papoyan said.
By Papoyan’s assessment, the significance of Amulsar is not measured only by investments and tax revenues, and the story is not simply about very large investments, many jobs, many taxes, but is also a story about mining industry standards.
According to him, the environment formed within the framework of the program has brought to Armenia new brands, standards and a culture of doing business, creating development opportunities for other branches of the economy as well.
“I think and I am confident that as a result of this not only thousands of jobs will be created, direct and indirect, but also such an economic engine will be created that will in general open a new road for this region, especially for Vayk, Jermuk, Sisian,” Papoyan said.
