YEREVAN, May 25. / ARKA /. According to Armenia’s chief treasurer Atom Janjughazyan, Armenia is still a country with low debt burden. Presenting today the report on the implementation of the country's budget in 2014 he said Armenia's foreign debt stood at about 1.8 trillion drams as of December 31, 2014 ($3.785.2 billion) or 39.7% of GDP, up from about 1.6 trillion drams ($3.899.1 billion) or 37% of GDP in late 2013.

The bulk of the debt - $3.345.3 billion was owed by the government and about $440 million by the Central Bank.

Janjughazyan said $266 million were spent last year to repay part of foreign debt and interests. Of that amount $162.7 million were the government’s obligations and $103.3 million were the obligations of the Central Bank. The ratio of external debt service to exports was 8.1% against 14.5% in 2013, while the ratio to the budget revenues  was 9.7% vs. 15.5% in 2013.

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