Finance minister: Armenia’s debt burden to grow by $350 million in 2017

10.02.2017 15:19
Finance minister: Armenia’s debt burden to grow by $350 million in 2017

YEREVAN, February 10. /ARKA/. Armenia’s debt burden will grow by $350 million in 2017, Vardan Aramyan, Armenian finance minister, told journalists on Thursday after a regular Cabinet meeting.

In late 2016, the debt amounted to $5.9 billion and in 2017 it is thought to reach $6.25 billion.

“As long as the government has a deficit as part of its tax and credit regulation policy it will attract loans to narrow it, and if savings are less than investments, it is necessary to use outside sources,” he said.

In his words, Armenia’s debt has not reached a dangerous degree yet, and the country is among states with not heavy debt burden.

“In 2020, the top-priority objective will be to redeem Eurobonds which were issued in 2013,” Aramyan said. --0---


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