YEREVAN, June 30. \/ARKA\/. Armenia\u2019s total debt is not problematic, Armenian Finance Minister Vache Gabrielyan told journalists on Thursday after a Cabinet session in Vayots Dzor province.<\/p>\n
\u201cCooperating with international organizations and using their methodology since 2010, we are analyzing stability of our state debt,\u201d he said. \u201cOur debt ranges between 40 and 45 percent of GDP, depending on foreign exchange rates, since this debt has been formed from outside sources. I don\u2019t find this indicator awful and uncontrollable and the debt so large and problematic.\u201d<\/p>\n
The minister said that under the law, if the country\u2019s debt is beyond 50%, the government budget deficit must be cut, and the next year\u2019s deficit must not exceed 3% of GDP.<\/p>\n
\u201cWe have no such a problem \u2013 we even have room for enlarging the debt without jeopardizing stability,\u201d he said.<\/p>\n
However, it doesn\u2019t mean that there is no necessity to pay attention to effective management.<\/p>\n
Gabrielyan said that now Armenia\u2019s total debt amounts to $4 billion, of which $3.5 billion is foreign debt, and the remaining $500 million is domestic debt.<\/p>\n
\u201cThe state debt will total AMD 1.597 trillion, which will make up 41.3% of GDP in 2011, later it will constitute 41.1% of GDP, and after that it will start reducing \u2013 to 39.5% in 2013 and then to 38%,\u201d he said.<\/p>\n
National Statistical Service of Armenia says the country\u2019s total debt amounted to AMD 1.436 trillion in late March. Domestic debt amounted to AMD 185.4 billion, and foreign debt AMD 1250.5 billion or $3.39 billion.<\/p>\n
Analysis of dynamics of Armenia\u2019s debt shows that it grew 4.1% in drams, compared with late December 2010. ($1 = AMD 368.86).–0–<\/p>\n","protected":false},"excerpt":{"rendered":"
Armenia\u2019s total debt is not problematic, Armenian Finance Minister Vache Gabrielyan told journalists on Thursday after a Cabinet session in Vayots Dzor province.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12139,9216],"tags":[15837,12275,12200,461],"class_list":{"0":"post-24866","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy-en","7":"category-news","8":"tag-armenia-2","9":"tag-debt","10":"tag-minister","11":"tag-461"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/24866","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=24866"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/24866\/revisions"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=24866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=24866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=24866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}