Armenia’s foreign debt-to-GDP ratio to be 41% in 2010

02.12.2009 20:52
Armenia’s foreign debt-to-GDP ratio to be 41% in 2010

YEREVAN, December 2. /ARKA/. Armenia’s foreign debt-to-GDP ratio will be about 41% in 2010, Gagik Minasyan, the chairman of National Assembly’s committee on finance and budget, said at a press conference on Wednesday.

“This indicator is within boundaries of a medium debt,” he said. “All those countries enjoying a reputation for being reliable borrowers and attracting funds from world financial organizations thanks to their macroeconomic indicators are in similar situation now.”

Earlier, Minasyan said that Armenia’s foreign debt would amount to $3.5 billion in 2010 against $3 billion (30%) in 2009.

The government is planning to earmark $123 million for serving the country’s foreign debt.

Armenia’s foreign debt reached AMD 754 billion by March 31, 2009.
In late March of the previous year, the country owed AMD 563.5 billion to outside creditors.

According to National Statistical Service, Armenia’s total state debt has grown 33.8% (in drams). ($1 = AMD 385.6).-0--


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