YEREVAN, April 11. /ARKA/. Armenia’s public debt will remain at a manageable level within 55% of GDP in 2024 if there are no currency shocks, Grigor Gyurjian, Senior Economist at the Asian Development Bank’s (ADB) Armenia Resident Mission, told a press conference on Thursday.
“This is the assumption we present in our study,” he said during the presentation of ADB’s latest Asian Development Outlook 2024 report.
According to the National Statistical Committee, Armenia’s total public debt as of February 29, 2024, stood at over $11.9 billion, up $28.643 million from January 31, 2024.
Of that amount over $6.4 billion was the external debt (a decline of $19.572 million from January 31, 2023.
The domestic debt in February increased by $48.216 million to $5.5 billion.
Armenia’s government debt improved impressively from 67% in 2020 to 47% of GDP in 2023.”
Fitch Ratings forecasts that Armenia’s government debt will stabilize at 49.4% of GDP on average in 2024-2025. -0-
