YEREVAN, October 16. /ARKA/. Armenia’s foreign debt may reach $3.8 billion later this year and about $4 billion by the end of the next year, but it will not exceed 37% of GDP, Gagik Minasyan, head of the National Assembly’s finance, monetary and budget standing committee, said on Tuesday.
He told journalists that this amount is rated as medium, and even small, if it is estimated on some other criteria.
Minasyan said the government will have to earmark a greater amount for the next year to pay its foreign debt – more than $200 million.
He said that the 2013 government budget is well-balanced, and the debt repayment will create no obstacles for implementation of other governmental programs.
Armenia’s total debt amounted to $4 billion in early August 2012. The external debt amounted to about $3.4 billion and the internal debt to $0.5 billion. ($1 – AMD 407.91). -0---