Armenia's debt shrinks thanks to effective spending of public means

11.09.2019 18:59
Armenia's debt shrinks thanks to effective spending of public means

YEREVAN, September 11. /ARKA/. Armenia's public debt has shrunk, Armenian Prime Minister Nikol Pashinyan reported Wednesday on his Facebook page. This is the first time since 2015 the country accounts for reduction of its public debt, he says.

Although the reduction of the public debt is not goal in itself, he says, but effective spending of public financial resources by the government has produced this result.
In his words, this, of course, slows down capital spending to some extent, since "the system used to work by other, well-known rules".

"But this is definitely a right way - not to allow spending public means on shoddy construction and kickbacks," Pashinyan wrote on his Facebook page.

The government reported in early August that the public debt has shrunk for the first time since 2015.

It was reported then that as of June 2019, that the country's foreign debt reduced 2.1% or by $120 million in the last 15 months.

According to the official statistical reports, Armenia's public debt amounted to $6 934 million and foreign debt to $4930.9 million by late June 2019. -0---


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