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Rebels burn two police cars on territory of seized building

Newspaper: Zhirayr Sefilyan does not refuse from the demand of Serzh Sargsyan's resignation

Oppositionists at Khorenatsi Street demand from Armenian authorities to refute information that armed groups from Chechen Republic are arrivING in the country

In H1, Anelik Bank registered growth of incoming money transfers by 26% y-o-y amid growth of outgoing transfers by 41% y-o-y

Charges pressed against three citizens for using violence against policemen in Yerevan

Founding Parliament: Helicopters of the 102nd Russian military base are on the way to Yerevan

National Security Service of Armenia reports new detentions and exposure of criminal group tied with "Daredevils of Sasoun"

Charges pressed against six citizens, another six citizens detained related to mass disorders in Yerevan

Delegation of Armenian Armed Forces General Staff travels to Minsk

National Security Service of Armenia calls on "Daredevils of Sasoun" to display their reasonableness, put down arms and surrender

Forecast: Precedent of "Daredevils of Sasoun" may spark more attempts of radical steps against authorities

Oppositionist says major topic of possible Sefilyan-Sargsyan meeting will be peaceful resolution of standoff rather than resignation of president

Members of opposition group threaten with civil disobedience throughout Armenia

Viva-Cell MTS offers roaming in Europe at special tariffs

TUMO Center for Creative Technologies to open in Koghb, near border village in Tavush region

Vitaly Balasanyan assures: President will invite Jirayr Sefilyan for a talk, after "Daredevils of Sasoun" put down arms and surrender

Democratic Party of Armenia comes out from political position, as standoff continues in Yerevan

Azerbaijan keeps violating ceasefire on Karabakh-Azerbaijan Line of Contact

Night at seized police patrol service station passed without incidents: Standoff in Yerevan enters day 8

"Daredevils of Sasoun" burn police car

Mass media: Activist Ani Navasardyan detained on charge of provoking mass unrest

Serviceman of NKR Defense Army killed from adversary's shot

Group of journalists arrives at seized building of the Police Patrol Service Regiment

Investigative Committee: Charges pressed against three citizens of Armenia for participation in mass disorders

"Sasna Tsrer" released the rest two hostages -Osipyan and Yeghiazaryan

Russian Foreign Ministry criticized EU's statement on events in Yerevan

Major General Vitaly Balasanyan provides details of his meeting with "Daredevils of Sasoun"

Armenian Foreign Ministry verifying if there were citizens of Armenia among Munich shooting casualties

National Security of Armenia confirms: Members of armed group voluntarily release two of four hostages

National Security Service of Armenia says two persons tied to armed group detained

Nikol Pashinyan: Levon Ter-Petrosyan and Serzh Sargsyan plot yielding territories around Nagorno Karabakh to Azerbaijan

"Daredevils of Sasoun" reportedly releases two of four hostages

NKR Defense Army soldier wounded, as Azerbaijan violates ceasefire

Armenia and UAE sign agreement to boost and protect investments

Sharmazanov: It is more likely that Kura River changes its course and falls into Black Sea than Karabakh becomes part of Azerbaijan with any status

Galust Sahakyan: Talks on possible resignation of Armenian government are rumors

Russian political scientist: Destabilization of situation and pressure on authorities prevail in "Sasna Tsrer" group's actions

Statements that five districts adjacent to Nagorno Karabakh will be passed to Azerbaijan exert pressure on the process, Bryza says

Levon Ter-Petrosyan: It is senseless to analyze the reasons that led to armed seizure of state building

President: In Armenia problems are not settled through brutal force and hostage taking - this situation continues longer than we can afford

Serzh Sargsyan: Punishment of those guilty inevitable

Newspaper: After talks with "Daredevils of Sasoun," Vitaly Balasanyan met with Serzh Sargsyan

Social media warn: physical attack prepared on Nikol Pashinyan

Views from Tel Aviv: Loss of control over country may push external powers to settle Karabakh conflict not in favor of Armenian people

Armenia's Defense Ministry confirms: Azerbaijani side targets school in near border village of Movses

Maria Zakharova slams Armenian and Azerbaijani journalists

Azerbaijan keeps intensively violating ceasefire on Line of Contact

Republican Party of Armenia for peaceful resolution of standoff and hostage situation in Yerevan

Night was calm near seized building of Patrol Police Station in Yerevan

Government of Armenia dismisses idea of creating "Aviation Code"

Regional

Nikol Pashinyan: North-South road corridor proved in the focus of the behind-the-scenes struggle inside power in Armenia

  • by Ashot Safaryan

  • Tuesday, June 10, 05:05

 Construction of the North-South road corridor proved in the focus of the behind-the-scenes struggle inside power in Armenia, MP Nikol Pashinyan said in the course of the parliamentary discussions on additional $170 million loan for construction of the road corridor, Monday. 

"I'd like to congratulate Serzh Sargsyan on this jubilee loan - Armenia's foreign debt exceeded $4 billion," Pashinyan said adding that as parliamentarian he has always voted against new credit agreements.  He said every new loan paves a way to new embezzlements, corruption schemes and siphon off money by the top leadership. 

"The first thing Gagik Beglaryan did immediately after taking the office of the minister of transport and communications was to fire Ara Hovsepyan from the post of the investment program director.  The latter is the right-hand of Serzh Sargsyan's son-in-law, whose 'political clan' from time to time  'attacks' the project. Actually, there is severe right for new loans," Pashinyan said.

According to him, the country's foreign debt grew thrice under Serzh-Sargsyan-Tigran Sargsyan tandem, amid 10% growth of poverty and population decline by 200,000 people. "What the raised loans were spent on and why the people living under poverty level have to redeem those loans, that is the question," the parliamentarian said. 

According to ArmInfo's expert calculations based on the official statistics, the debt burden per capita grew from $1400 to $1500 in 2013, while foreign debt per capita grew from $1200 to $1300. In the crisis year 2009, this indicator was only $550. Considering the large-scale migration from the country, the number of the population is much lower than official data (from 3.027 million people in 2012 to 3,107 million people in 2013), the foreign debt burden per capital grew even higher. The share of the foreign debt in GDP of Armenia in 2009-2012 was 35%-38%, growing 26% in absolute term amid slackening GDP growth rates (given the 14% decline in 2009). 
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By statistical data, 87% or $3.395 bln of the foreign debt is the share of the government, with the remaining 13% or $508.3 mln being the share of the Central Bank. Armenia's total state debt as of Jan 1 2014 was 1.9 trillion drams or $4.6 bln with a 1.2% growth for December and a 5.5% growth for Jan-Dec.  The share of the internal state debt is 15% or 277.7 bln drams ($684.7 mln) with a 0.6% growth for December and 8.7% growth for Jan-Dec. The share of the government bonds in the internal state debt for 2013 grew from 97.7% to 98.5% with a 9.7% year-over-year growth of the absolute indicator. The share of trade loans fell from 1.9% to 1.2% with a y-o-y decline of the absolute indicator by 33%.  The remaining are guarantees that fell from 0.4% to 03% with a y-o-y decline of the absolute indicator by 10.5%.

As of Jan 1 2013, the state debt of Armenia was 1.8 trillion drams of $4.4 bln, including 1.5 trillion drams or $3.7 bln was the foreign debt and 255,5 bln drams or $633 mln - internal debt.

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