YEREVAN, June 4. /ARKA/. The ratio of public debt to GDP in Armenia in 2024 was 48%, Finance Minister Vahe Hovhannisyan said.
“In 2024, the fiscal policy was implemented under a softer restriction of fiscal rules,” he said in parliament on Wednesday during the discussion of the report on the implementation of the state budget of the Republic of Armenia for 2024.
The head of the Finance Ministry reported that in 2024, the tax-GDP ratio was 23.6%, registering a certain decline compared to 2023, which was due to structural changes in the economy, a decrease in the role of imports aimed at domestic consumption, and an increase in the role of exports.
Hovhannisyan also noted that last year, capital expenditures of the state budget of Armenia exceeded the deficit by approximately 181.7 billion drams.
“The capital expenditure-GDP indicator reached 5.5%. The state budget deficit was formed at such a level that it allowed maintaining the government’s debt burden at a safe level,” Hovhannisyan said.
According to Armstat, the total public debt of Armenia as of December 2024 amounted to $12.8 billion. In the structure of the total debt, $6.45 billion falls on external debt, and domestic debt amounted to $6.39 billion. -0-
