{"id":250507,"date":"2022-09-05T08:14:44","date_gmt":"2022-09-05T08:14:44","guid":{"rendered":"https:\/\/armbanks.am\/2022\/09\/05\/250507\/"},"modified":"2022-09-05T08:14:44","modified_gmt":"2022-09-05T08:14:44","slug":"fitch-armenias-public-debt-to-gdp-ratio-could-fall-to-50-5-in-2022","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2022\/09\/05\/250507\/","title":{"rendered":"Fitch: Armenia’s public debt to GDP ratio could fall to 50.5% in 2022"},"content":{"rendered":"\n

YEREVAN, September 5,\/ ARKA\/.\u00a0\u00a0<\/strong>Exposure to exchange rate volatility is the key risk to debt dynamics in the medium term, given that 64.7% of gross general government debt (GGGD) was foreign-currency denominated at end-June (current ‘B’ median: 63.4%), Fitch ratings said in a press release.<\/p>\n\n\n\n

Fitch projects the substantial appreciation of the dram vs the US dollar in 2022 and strong nominal GDP growth will reduce GGGD\/GDP by nearly 10pp to 50.5%, but that subsequent depreciation could lift it back to around 54% in 2023-24.<\/p>\n\n\n\n

Armenia’s total public debt stood at about $9,931,796,000 as of June 30, 2022, having grown by $351,342,000 from the previous month, according to the numbers, released by the National Statistical Committee (NSC).<\/p>\n\n\n\n

On December 31, 2021, the country’s total public debt was $9,225,643,000. If calculated in Armenian drams, the overall public debt decreased by about 251,737,400 drams from late May, 2022 to 4,055,251,800 drams. On December 31, 2021 it was worth 4,429,600,000 drams.<\/p>\n\n\n\n

According to the NSC, of the total public debt about $6,495,892,000 were the external debt of the government, which dropped by $37,021,000 from late May 2022, while domestic debt in late June 2022  increased by $388,363,000 to about $3,435,905,000.<\/p>\n\n\n\n

In Armenian drams the external debt decreased by 284,598,800 to 2,652,337,600, while the domestic debt increased by 32,861,400 to about 1,402,914,200 drams.<\/p>\n\n\n\n

The government’s external debt decreased by $73,815,000 to $, 5,954,023,000 as of late June 2022. In dram equivalent, the government’s debt decreased by 278,788,000 to 2, 431, 087, 3000 drams.<\/p>\n\n\n\n

The debt of the Central Bank increased by about $36,794,000 to $541,868,000. In dram equivalent it dropped by 221,250,200 to 5,810,800,000 drams.<\/p>\n\n\n\n

Of the domestic debt, some $3, 158, 907,000 (an increase of $358,437,000) were owed to resident holders of government bonds. Some $236,961,000 were owed to holders of the government’s Eurobonds (an increase of $28,765,000). Also, $13,036,000 were owed as domestic guarantees, an increase of $1,161,000. – 0-<\/p>\n","protected":false},"excerpt":{"rendered":"

Exposure to exchange rate volatility is the key risk to debt dynamics in the medium term, given that 64.7% of gross general government debt (GGGD) was foreign-currency denominated at end-June (current ‘B’ median: 63.4%), Fitch ratings said in a press release<\/p>\n","protected":false},"author":1,"featured_media":162167,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12139,9216],"tags":[15389],"class_list":{"0":"post-250507","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy-en","8":"category-news","9":"tag-fitch-ratings-2"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/250507","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=250507"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/250507\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/162167"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=250507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=250507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=250507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}