Pashinyan blames sharp increase in public debt on weapons purchases and COVID-19

YEREVAN, November 13. /ARКА/. Armenian Prime Minister Nikol Pashinyan blamed the sharp increase in the country's public debt on weapons purchases and COVID-19.

Armenia's total public debt as of September 30, 2025, amounted to $14,195.887 million, up from $6,922.9 million in December 2018.

"You (addressing the opposition) say that the external debt has grown by 8 billion (without specifying the currency). You ask: what did you do? We didn't want to say, but we will. We bought weapons," Pashinyan said today in his closing speech during the parliamentary debate on the draft 2026 state budget.

He stated that the weapons were purchased on credit.

"Why? Because we needed a lot, and right away. Don't believe me? You have every right. I say, 'Let's go—I'll show you. We can even put price tags on it. We can show you the weapons of our army and the weapons of your time,'" Pashinyan said.

He also mentioned the coronavirus pandemic.

"We took out a loan so the country could overcome COVID-19 during the war," Pashinyan said.

Earlier, Armenian Defense Minister Suren Papikyan stated that Armenia's defense budget was 245 billion drams in 2018, and 667 billion drams in 2025.

The draft state budget for 2026 envisages a reduction in defense spending by almost 16%, to 560 billion drams. According to the document, defense spending in 2026 will be directed, in particular, toward maintaining combat readiness to ensure the strategic deployment of the Armed Forces and ensuring the protection of state borders. ($1 = 382.09 drams).-0-