Armenian Prime Minister Tigran Sargsyan said that the National Assembly adopted in the first reading a legislative package comprising of around 50 laws.
The volunteer saving funds will start operating from January 1, 2011. The single social tax will come into force in 2013, envisaging common legislation and mechanisms of social payments and income tax.
Besides, the funded pension scheme will be enforced from 2014, and it foresees that all working citizens of Armenia under 40 will be obliged to save 5% of their profits for old age, Mr. Sargsyan told the 16th sitting of the Board of Trustees of the National Competitiveness Foundation of Armenia (NCFA.)
As for macroeconomic stabilization and development of financial markets, the Armenian Prime Minister emphasized the importance of introduction of compulsory insurance system from January 1, 2011, as well as of adoption of the Law on Public Services by the National Assembly, what will allow making the activity of ministers and parliament members more transparent. Specifically, a singe electronic register will be established, to which 500 officials will be providing declarations containing data about them.
During the sitting, NCFA CEO Bekor Papazyan briefed on the process of implementation of programs in tourism, healthcare and nets’ availability.
