Tue, 23 September
17.1 C
Yerevan
USD: 383.45 RUB: 4.60 EUR: 451.47 GEL: 140.98 GBP: 517.58

Armenian finance minister expects no additional pressure on national currency from foreign debt repayment

YEREVAN, February 10. /ARKA/. Vardan Aramyan, Armenian finance minister, thinks the increase in the foreign debt servicing burden is unlikely to put additional pressure on the Armenian dram.

He told journalists on Thursday that the country’s current account deficit narrowed from 8% to 2.8%.

In his words, in such countries as our country, the acceptable deficit ranges between 4 and 5%. “In addition, when imports shrink, demand for foreign currencies goes down as well,” he said. “And as for ability to service the foreign debt, it should be taken into account that the Armenian market receives financing from various sources – exports, money transfers and borrowings.”

Asked whether the government intends to issue bonds to cover budget spending or not, the minister said that this is a permanent process.

“But if you speak about placement of government bonds worth $300 million at the foreign market, no such scenarios are being considered now,” he said.

Aramyan confirmed that the peak of foreign debt repayment will come in 2020, when Armenia will have to pay $500 million.

Armenia’s public debt amounted to about $5.9 billion in late 2016. Of this amount, $1.1 million is domestic debt. –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 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.

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.

LATEST NEWS

spot_imgspot_imgspot_img