Head of commission: Armenian government foreign debt grew by almost $300mln in 2012

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Economy

29.01.2013, 13:56

Armenian government’s foreign debt grew by almost $300mln to $3bln 859mln in 2012 compared to 2011, head of parliament commission for finance, credit and budget issues, member of the ruling Republican Party of Armenia Gagik Minasyan told journalists Saturday.

Head of commission: Armenian government foreign debt grew by almost $300mln in 2012

YEREVAN, January 29. /ARKA/. Armenian government’s foreign debt grew by almost $300mln to $3bln 859mln in 2012 compared to 2011, head of parliament commission for finance, credit and budget issues, member of the ruling Republican Party of Armenia Gagik Minasyan told journalists Saturday.

“According to the projections, Armenian government’s external debt is to amount to $3bln 859mln by the end of 2012 against $3bln 568mln in 2011”, Minasyan said.

The head of the commission also said that the debt of Armenia’s Central Bank is about $800mln and it is financed not from the state budget.

Minasyan also stressed that foreign debt of Armenian government constitutes 37% of the country’s GDP, which is considered an average or low debt burden.

According to Armenia’s national statistical service, Armenia’s external debt was $3.7bln as of the end of September 2012, which was a 4.8% increase over the amount recorded as of the end of December 2011. ($1=406.29drams). -0-

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