Sun, 6 April
19.1 C
Yerevan
USD: 391.22 RUB: 4.63 EUR: 431.28 GEL: 142.08 GBP: 508.39
spot_img

Armenia still a country with low debt burden – deputy minister of finance

YEREVAN, June 11. /ARKA/. Armenia has maintained its status of a country with low debt burden and not a risky state in terms of servicing, Armenian deputy minister of finance and head of treasury Atom Janjughazyan said in responding the questions of parliament deputies on Tuesday.

“We will continue our policy of a planned growth of nominal national debt, which, yet, has no effect on comparative level of the national debt and allows to maintain control on he debt burden situation”, he said.

Janjughazyan stressed Armenia is still on the list of the countries with low debt burden due to its policies and early repayment of the Russian stabilization loan.

Under a government decree, $450 million from the euro bond issue were used for early repayment of the Russian stabilization loan worth $500mln, $50mln of which had been already repaid.

According to the head of the treasury, it is unreasonable to compare the national debt level with the social condition of the population. The debt level is formed by expense items of the budget based on priorities of the programs, he said.

Secretary of Prosperous Armenia party faction Naira Zohrabyan said the former cabinet failed to implement many economic programs and raised the national debt level, which led to migration, increased unemployment and poverty.

“The national debt is increasing, whereas living standards are dropping: the situation should be corrected quickly, otherwise it will lead to failed government economic policy”, she said.

According to ArmStat, total national debt of Armenia amounted to $4,560.37 million as of the end of April 2014, i.e. no change from the month before. The country’s foreign debt rose by $20.8 million over the reporting month to $3,887.9 million as of the end of April. –0–

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Arka news agency’s ranking of most profitable Armenian banks in 2019

In 2019, Armenia-based commercial banks earned a total of 78.8 billion drams in net profit, up from 56.4 billion drams they had earned in 2018, according to ARKA news agency's ranking of the most profitable commercial banks in the fourth quarter of 2019

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

Top ten Armenian banks by size of lending in 2019

In 2019, the overall loan portfolio of Armenia's banking sector grew by 16.4% to 3.572.2 trillion drams

LATEST NEWS

spot_imgspot_imgspot_img