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

Armenian government proposes to remove central bank’s debt from ‘state debt’ concept

YEREVAN, June 19. /ARKA/. The National Assembly of Armenia is discussing today the government-proposed amendments to the state debt law that imply removal of the central bank’s debt from ‘state debt’ concept.

Atom Janjughazyan, deputy finance minister and treasury secretary, describing the bill to the lawmakers, said that the current low states that Armenia’s state debt must not exceed 60% of GDP, and if the law is amended this restriction will apply only to the government’s debt.

The bill is strongly opposed by opposition-minded MPs, who said that the aim of this legislative change is to attract new loans.

Tevan Poghosyan, an MP from Heritage faction in the National Assembly, said that the government is so quick in making this step for it understands very well that Armenia’s foreign debt is coming close to the critical notch, after which the country may be called insolvent.

Artsvik Minasyan, an MP from the Armenian Revolutionary Federation/Dashnaktsutiun, who was opposed to the bill as well, said that this move shows how desperate things are.

Atom Janjughazyan says the country’s state debt will reach $4.8-4.9 billion this year. In his words, Armenia ended the previous year with $4.4 billion and 40.4% state debt-GDP ratio. —-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

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

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.

LATEST NEWS

spot_imgspot_imgspot_img