Ratio of Armenia’s public debt to GDP at the end of the year is expected to reach 50-60% - Janjughazyan

25.06.2020 12:12
Ratio of Armenia’s public debt to GDP at the end of the year is expected to reach 50-60% - Janjughazyan

YEREVAN, June 25. /ARKA/. The ratio of Armenia’s public debt to GDP at the end of the year is expected to reach 50-60%, Armenian Finance Minister Atom Janjughazyan said Wednesday at an extraordinary meeting of the country’s parliament.

“It is clear that the ratio of government debt to GDP does not depend on one factor, in particular, it is difficult to predict GDP amid the current uncertainty,” he said at the hearings on the performance of the government budget for 2019.

He said if for some reason the permissible benchmark of this indicator is exceeded, this does not mean that the fiscal rule needs to be changed.

"This means that such a strategy should be presented within which this indicator will be stabilized," Janjughazyan explained.

In early June, the finance minister said that the level of public debt to GDP in Armenia amounted to 53.6%, but it is fully manageable and there is room for attracting new funds.

According to the National Statistics Committee, the total public debt of Armenia at the end of December 2019 amounted to $ 7 324.167 million showing an increase over the month by $ 158.091 million. The country’s foreign debt at the end of December 2019 amounted to $ 5 789.729 million, recording a growth for the month by $ 163.477 million - $ 5,300.412 million here is the debt of the Armenian government (an increase of $ 186.278 million), and $ 489.317 million is the debt of the Central Bank of Armenia (a decrease of $ 22.801 million). The domestic debt of Armenia at the end of December reached $ 1,534,439 million, decreasing by $ 5,386 million. -0-


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