YEREVAN, May 29. /ARKA/. The amount of money that the government of Armenia earmarks annually to service its foreign debt is gradually increasing, and by 2020 it will reach the maximum of $973.5 million, the deputy head of the Audit Chamber Ara Nranyan told the parliament today.
He said the government will need $367.6 million to repay the principal amount of its debt this year, which is 23.7% more than last year. Nranyan noted also that the share of state debt to GDP was 58.9%.
Armenia’s total state debt at the end of 2017 was $6.774.6 billion, an increase of 14% or $832.5 million compared to the end of 2016. The country’s external debt stood at $5.494.9 billion, having increased by 14.3% or $689.3 million from the previous year. -0-
