Armenian government’s external debt decreases by 4.5 % in first half to $3.713.5 billion –Central Bank

23.10.2013 19:33
Armenian government’s external debt decreases by 4.5 % in first half to $3.713.5 billion –Central Bank

YEREVAN, October 23. / ARKA /. Armenian government’s external debt in the first half of 2013 decreased by 4.5 % to $3.713.5 billion, according to a Central Bank report on financial stability. It said also that the ratio of public debt to GDP was 37.3 %, down from last year's index.

According to the report, the share of concessional loans in the total debt amounted to 55.6 %, while the share of loans with a floating rate to 34.4%.

The report said as a result of improved tax administration, in the first half there was a positive trend in terms of budget execution. Thus, according to the National Statistical Service (NSS), budget revenues in the reporting period increased by 20.4 % from the same time span last year to 505.293.2 billion drams, securing a 100.6 % execution of government's programs in the first half of 2013. The Central Bank said this growth was due to a 21 percent rise mainly in VAT collection.

The report also says the spending increased by approximately 8% to 450.093.3 billion drams, resulting in a surplus of 47.199.9 billion drams, an equivalent of 1.2% of the GDP.

According to the Central Bank, the first half of 2013, especially its second part, was marked by high inflationary environment stemming from developments in agriculture and the rise in prices for some services. As a result, the 12-month inflation in June was 6.5 %. -0- .-0-


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