YEREVAN, March 19. /ARKA/. Armenia’s public debt at the end of 2024 increased by 6.2% compared to the same period in 2023, reaching about 5 trillion drams, said Armenian Finance Minister Vahe Hovhannisyan.
“This figure is approximately $12.8 billion. However, the ratio of public debt to Armenia’s GDP decreased by 0.1 percentage points, to 48.3%,” Hovhannisyan said during a meeting of the parliamentary committee on economic affairs.
He also noted that in 2024, the tax-to-GDP ratio stood at 23.6%.
“Over the past seven years, the tax-to-GDP ratio has improved by 2.8 percentage points, rising to 23.6% from the previous 20.8%,” Hovhannisyan added.
According to Armstat, Armenia’s total public debt as of December 31, 2024, was $12.8 billion. External debt accounts for $6.45 billion, while internal debt stands at $6.39 billion.
