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Armenia raises national debt ceiling

20.12.2017 18:05

Armenia raises national debt ceiling

YEREVAN, December 20. /ARKA/. A set of amendments passed today in the second and final reading to Armenian laws related to the state budget and the national debt, provide for three national debt ceilings - 40%, 50% and 60% of the GDP.

According to finance minister Vardan Aramyan, the amendments clarify the principles of fiscal policy regarding public finance management and, with the help of additional legal norms, provide for more regulated and flexible processes in the preparation and implementation of the state budget.

According to the minister, under the 40% national debt ceiling government’s capital expenditures should exceed the budget deficit. In his words, this logic underlies the state budget for 2018. Under the 50% ceiling the need to ensure the growth of current expenditures is added to the previous requirement. Under the 60% ceiling the approaches are even more toughened, and current expenditures are tied to domestic revenues.
The minister recalled that under the current law if the level of public debt exceeds 50% of GDP, then next year’s budget deficit should not exceed 3% of the average GDP over the previous three years.

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Armenia’s national debt to amount to $6.25 billion in late 2017

06.02.2017 17:41

Armenia’s national debt to amount to $6.25 billion in late 2017

In late 2017, Armenia’s national debt will reach $6.250 billion, finance minister Vardan Aramyan told reporters today. He said this figure includes also the Central Bank’s debt, which is expected to be approximately $530 million by the end of the year

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Armenia’s national debt not to surpass 60% of projected GDP

06.12.2016 18:24

Armenia’s national debt not to surpass 60% of projected GDP

In 2016 Armenia’s overall national debt will not exceed 54.4% of the projected GDP, finance minister Vardan Aramyan said today when introducing a set of proposed amendments to the draft budget to parliament. He added that in 2017 it will grow to 56.2%

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