Armenia's overall public debt grows to $7.97 billion

25.01.2021 16:25
Armenia's overall public debt grows to $7.97 billion

YEREVAN, January 25. /ARKA/. Armenia's total public debt amounted to $7.968.5 billion at the end of 2020, having surged by $647.2 million from the previous year, according to a finance ministry's report.

In Armenian drams the country's overall public debt grew by 652.3 billion drams to 4 trillion 164.3 billion drams.

According to the ministry of finance, of that amount some $7.508.5 billion were owed by the government. It increased by $676.6 million. In dram equivalent, the government's debt upped by 646.6 billion drams reaching 3 trillion 923.9 billion drams.

The Central Bank's debt slashed last year by $29.4 million to $459.9 million. But in dram equivalent, it increased by 5.7 billion drams to 240.4 billion drams.

The government's external debt at the end of 2020 stood at $5.593.2 billion, an increase of $298 million compared to the end of 2019.

Armenia's domestic debt at the end of 2020 grew by $378 million year-on-year to $1.915.3 billion. About $1.834.8 billion of that amount was owed to resident holders of government bonds. The debt to holders of government Eurobonds amounted to $80.6 million.

In a 2020 October report the Fitch Ratings predicted that Armenia's public debt would  grow from 53.5% of GDP at the end of 2019 to 63.9% at the end of 2020. In a related forecast the IMF said last December that the country's debt in medium term would decrease to about 60% of GDP.

Armenian finance minister Atom Janjughazyan said in 2020 November that the ratio of the country's public debt to GDP by the end of 2020 would be 66.5% against 49.9% in 2019 and would grow to 67% in 2021. ($1 - 518.44 drams). –0--

Tags: , Новости Армении АМИ Новости-Армения

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