YEREVAN, January 24. /ARKA/. The share of state debt of Armenia in GDP in 2011 will be on the level of 2010 with the indicator of 44.4% and will reduce after 2012, said Armenian Minister of Finance Vache Gabrielyan on Monday.

In 2010 the state debt of Armenia was $3795 million.

“We will not reach the margin limited by the law (50%) and debt burden will be reduced starting from 2013”, he said.

The same reduction is envisaged also for the indicator of budget deficit.

Budget deficit for 2011 is planned in the amount of 148.6 billion drams with the expenses of 1 trillion drams and income will be 852 billion drams.

Armenia has no problems with the redemption of external debt. From the point of view of debt ratio, particularly in GDP and current income, Armenia is not in the danger zone.

The Ministry of Finance analyzed “the debt behavior” in the context of various market scenarios, particularly variation of currency rate or not high real GDP growth during the next years.

According to IMF prognosis, the ratio of external debt of Armenia in GDP in 2011 will get closer to 49.2% and the indicator of deficit in GDP in 2011 will reduce to the level under 4%.

Total state debt of Armenia as of September 30 was about 1331.7 billion drams. Armenian National Statistic Service informs that internal debt of Armenia was about 165.4 billion drams and external debt – 1166.3 billion drams or $3228.1 million. ($1 – 367.39 drams). --0--