YEREVAN, 19 June. /ARKA/. Armenia’s Finance Minister Vahe Hovhanissyan said there is no doubt that the state debt will remain below 50% of GDP by the end of the year.
In an interview with Business Media Georgia the minister said the government has achieved significant results in state debt management.
‘Thus, over the last two years we have managed to reduce the size of the debt from 63 per cent of GDP to 47 per cent. Its one positive result is that we have managed to increase the share of domestic debt, which is now slightly below 50%,” the minister said.
Hovhannisyan pointed out that this allows keeping the debt at a stable level, as evidenced by recent changes in Armenia’s standing in terms of state debt to GDP ratio by rating agencies.
According to the National Statistical Committee of Armenia, as of 30 April 2024, the total national debt of the country stood at almost $12.07 billion, having decreased by $92.618 million from the previous month.
At the same time, on 31 December 2023, the national debt was over $11.84 billion. Out of the total debt, over $6.34bn was the external debt and over $5.72bn was the domestic debt.-0-
