Armenia’s foreign debt not critical yet – finance ministry
16.12.2016,
12:03
Arshaluys Makaryan, chief of the Armenian finance ministry’s division in charge of the country’s public debt, find the amount of the foreign debt has not reached the critical degree so far.
YEREVAN, December 16. /ARKA/. Arshaluys Makaryan, chief of the Armenian finance ministry’s division in charge of the country’s public debt, find the amount of the foreign debt has not reached the critical degree so far.
“We will not let the debt reach a dangerous level – we will keep it within controllable and safe frames,” he told journalists on Thursday at an event dedicated to presentation of state debt regulation reforms to be implemented as part of an EU program.
As a rule, he said, the debt influence becomes visible amid crises, wars etc.
“Then income shrinks and the process strikes eyes,” Makaryan said. “Fortunately, we have managed to ensure such a debt structure which allows us today to increase it.”
The National Statistical Service says, Armenia’s foreign debt amounted to $4 543.5 million by late October 2016 after shrinking by 1% or by $48.4 million over the month.
According to official statistical reports, the Armenian government’s debt here amounts to around $4 044.5 million (down $41 million), and the central bank’s debt to $498.9 million (down $7.4 million).
Armenia’s domestic debt grew by $58.9 million in October, compared with the previous month, to $1 063.29 million. The government bonds bought by residents total about $971.6 million here, government bonds in foreign currencies $84.6 million and domestic guarantees $7 million.
In the government budget for 2016, the public debt was projected at 49.4% of GDP and the ratio of foreign debt to GDP at 42.8%.
The public debt of Armenia is expected to amount to $5.569 billion in 2016, of which 86.6% will be the country’s foreign debt. -0----
“We will not let the debt reach a dangerous level – we will keep it within controllable and safe frames,” he told journalists on Thursday at an event dedicated to presentation of state debt regulation reforms to be implemented as part of an EU program.
As a rule, he said, the debt influence becomes visible amid crises, wars etc.
“Then income shrinks and the process strikes eyes,” Makaryan said. “Fortunately, we have managed to ensure such a debt structure which allows us today to increase it.”
The National Statistical Service says, Armenia’s foreign debt amounted to $4 543.5 million by late October 2016 after shrinking by 1% or by $48.4 million over the month.
According to official statistical reports, the Armenian government’s debt here amounts to around $4 044.5 million (down $41 million), and the central bank’s debt to $498.9 million (down $7.4 million).
Armenia’s domestic debt grew by $58.9 million in October, compared with the previous month, to $1 063.29 million. The government bonds bought by residents total about $971.6 million here, government bonds in foreign currencies $84.6 million and domestic guarantees $7 million.
In the government budget for 2016, the public debt was projected at 49.4% of GDP and the ratio of foreign debt to GDP at 42.8%.
The public debt of Armenia is expected to amount to $5.569 billion in 2016, of which 86.6% will be the country’s foreign debt. -0----
