Armenia’s public debt increased by 6.2% at the end of 2024 – Finance Ministry

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.

spot_img

POPULAR

Armbanks Weekly Digest: Key Events in Armenia’s Financial Market (May 18-24)

Last week, the Armenian financial market focused on bank restructuring mechanisms, the tax model for bank dividends, the regulatory agenda, comments from international financial institutions, and the development of financial literacy.

Continuous liquidity and fair pricing must be ensured in the Armenian foreign exchange market — Central Bank

One of the main tasks of the Central Bank of Armenia is to ensure continuous liquidity and fair pricing in the foreign exchange market, stated Martin Galstyan, head of the regulator.

About 10% of Armenia’s dram-denominated government debt is held by international institutional players: Central Bank Governor

Institutional players are entering the dram-denominated government debt market in Armenia, stated Martin Galstyan, Chairman of the Central Bank of Armenia.

Central Bank of Armenia expects inflation to return to the target level in the medium term

The Central Bank of Armenia expects inflation to return to the target level in the medium term, said Central Bank Chairman Martin Galstyan, answering a question from the ARKA news agency.

Central Bank of Armenia estimated “unexpected losses of banks” under a three-year stress scenario at 185 billion drams

Unexpected losses of the Armenian banking system on the horizon of three-year stress testing at the Central Bank are estimated at about 2% of risk-weighted assets, or about 185 billion drams, said Martin Galstyan, Chairman of the Central Bank of Armenia, presenting the financial stability report for 2025.

LATEST NEWS

spot_imgspot_imgspot_img