In 2019 Armenia's public debt to make 50.3% of its GDP

31.10.2019 17:22
In 2019 Armenia's public debt to make 50.3% of its GDP

YEREVAN, October 31. /ARКА/. Armenian government's public debt at the end of 2019 will stand at $6.94 billion, making 50.3% of its GDP, First Deputy Minister of Finance Karen Brutyan told a parliamentary hearing on the 2020 draft budget today. He specified that as of September 30, 2019, the public debt was worth $6.539 billion.

“Taking into account the loans approved by the government, the public debt level will not exceed 50%, which we consider an important achievement, since this indicator is lower than the level of public debt in late 2018, when it amounted to 51.3% of GDP,” Brutyan said.

Prime Minister Nikol Pashinyan called this indicator a major achievement. "It is important as an opportunity, if necessary, to raise new loans without undue fears," Pashinyan said.

He recalled that the government decided not to attract new loans. He added that loans will be raised only for such capital expenditures, which would increase government revenues and lead to economic development.

"In fact, today we are creating such an opportunity for ourselves. It became obvious after the placement of Eurobonds. This is really a success," Pashinyan said.

According to the National Statistical Committee, the total state debt of Armenia at the end of August 2019 stood at $6.973.391 billion, decreasing by $11.585 million from the previous month. ($ 1 - 476.2 drams). --0--


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