Armenia’s current external debt poses no threat to its economy: prime minister
24.03.2012,
17:56
Armenia’s current external debt poses no threat to its economy, prime minister Tigran Sargsyan said today at a student conference on 20 years of independent Armenia.
YEREVAN, March 24. /ARKA/. Armenia’s current external debt poses no threat to its economy, prime minister Tigran Sargsyan said today at a student conference on 20 years of independent Armenia.
Armenia’s external debt increased last year by 8.2% (or $269.2 million) to $3.568 billion at the end of December 2011. According to the latest statistical data, the proportion of the country's external debt to GDP was 35.6%
"We have a clear strategy for external debt management aimed, inter alia, at maintaining liquidity. Currently, the debt burden poses no risk, and we continue this strategy," he said.
According to him, there are certain legal framework and regulations governing external debt, as well as the limits that the government has no right to exceed.
"We will borrow only the money that will be directed at increasing the country's economic power," he said.
The conference in the resort town of Tsakhkadzor is organized by the Student Council of the Armenian State University of Economics in conjunction with the Youth Foundation of Armenia. The aim is to give a boost to research activities of students. The event involves more than one hundred students, who will represent about 30 research papers.-0-
