Tue, 23 September
13.1 C
Yerevan
USD: 382.85 RUB: 4.58 EUR: 451.57 GEL: 141.09 GBP: 517.23

Armenia’s national debt not to surpass 60% of projected GDP

YEREVAN, December 6. /ARKA/. In 2016 Armenia’s overall national debt will not exceed 54.4% of the projected GDP, finance minister Vardan Aramyan said today when introducing a set of proposed amendments to the draft budget to parliament. He added that in 2017 it will grow to 56.2%. According to him, Armenia’s national debt in terms of money is projected at $ 6.245 billion in 2017, up from anticipated $5.849 billion projected for 2016.

“The country’s overall public debt in 2017 in no case will surpass 60% of the projected GDP, and if we register a more active economic growth, the indicator may even drop,” – Aramyan said.

Earlier, the minister said they did not expect external shocks next year, including further economic slowdown in Armenia’s partner countries, as a result the government considers it inexpedient to attract additional credit resources.

He argued that public debt growth in the previous two years was due solely to resisting external shocks ‘in order to prevent economic recession and the devaluation of the national currency.’ Armenia, the minister said, is in the list of countries with low debt burden.

According to ministry of finance, Armenia’s debt in 2016 will grow by $789 million to $5.867 billion. In 2017 it is expected to hit $6. 277 billion. The public debt ratio to GDP will increase from 54.1% in 2016 to 55.1% in 2017. ($ 1 – 481.62 drams). -0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

LATEST NEWS

spot_imgspot_imgspot_img