YEREVAN, September 17. /ARKA/. Armenia’s foreign debt dropped by $120 million over the past 15 months, Prime Minister Nikol Pashinyan said at a press conference in Vanadzor on Monday.
He said it was the first drop in foreign debt of the country since 2015. He said also according to official data, as of June 2019, the country’s foreign debt was less by $120 million, or 2.1%.
Earlier, Pashinyan said that the reduction of the debt resulted from the effective spending of state funds.
According to him, this, of course, to some extent slows down the pace of capital expenditures, “since the system was used to working according to other, well-known rules.”
However, he said the right path was chosen – not to allow spending of state funds on poor-quality construction and kickbacks.
According to official statistics, Armenia’s total public debt at the end of June 2019 stood at $6.934 billion; the external debt stood at $4.930.9 billion .– 0—
