Newsfeed

Deputy chief of Yerevan Police urges protesters to lift barricades and go home

Areximbank-Gasprombank Group Propelling its Statutory Capital to a Leading Position

Free SMS for Orange prepaid and monthly subscription customers

Volume of VTB Bank (Armenia) "VISA VTB Cosmopolitan" Non-Cash Operations Increased by more than 40%

ROSGOSSTRAKH ARMENIA Shortening the OSAGO Reimbursement Dates

Georgian Political Expert: Georgia to Gladly Accept USA's Offer to Host Military Objects and Forces

Press conference dedicated to the 9th International Tchaikovsky Competition for Young Musicians.

Electric Networks of Armenia keen to ensure its receivables through court action

Special Investigation Service of Armenia initiates criminal case over Police use of force to disperse protests against electricity price hikes

Expert: Nationalization of ENA will halt investments and reduce donations to Armenia

Ambassador: Yerevan's new differentiated foreign policy line bringing fruits

"City Talks": the embedded airtime can also be used for calling to 374 97 and 374 47 networks, USA, Canada and Russia

Stratfor: "Any change in tactics to protesters could enflame the protests and escalate the situation in Armenia"

Andrey Areshev: Forces demonstrating preconditions for Maidan-like revolution in Armenia should not push things too far

Joint Offer from INECOBANK, ARAY and Technolife - 15% Return of Non-Cash Payment to Cardholders

Founding Parliament says its members suffering political persecutions

Foreign Minister of Armenia: Authorities taking measures to establish dialogue with protesters

Deputy Demanding to Explain the Situation on Russian Loan and Energy Rate Compensation Funds

Ministry of Defence of Armenia: no Penny from Russian 200-mln-USD Loan to be Allocated for Energy Rate Compensation

Deputy-General Threatening to Kick Those who are Responsible for Fraud at "Electric Networks of Armenia"

Armenian Police Withdrawing Special Vehicles from Baghramyan Ave

Newspaper: Within Soft Loan Russia is to Procure Armenia with "Iskander M" Missile Complexes

Armenian parliament speaker calls on protesters to put an end to climate of distrust in country

Zaruhi Postanjyan says no justice possible unless Permyakov is transferred to Armenian law-enforcement

Peskov: Presidents of Armenia, Russia have not discussed electricity price in Armenia

Free eye care services rendered in Lori region thanks to Armenian Eye Care Project and Orange Foundation

VivaCell-MTS offers new smartphones for AMD 1 in case of subscribing to "STARTPHONE" tariff plan for 24 months

Newspaper: Americans and Europeans want to buy Electric Networks of Armenia

ANC: Situation in Armenia is the result of permissiveness of state governance bodies and law-enforcement structures

Newspaper: High electricity and gas tariffs will hamper re-launch of Nairit Plant

Vladimir Gasparyan: Armenian police have no intention "to break" the youth in Baghramyan Ave

"Armenbrok" OJSC the Market-Maker of Armswissbank's Three Debut USD Issues of Denominated Bonds

120 000 downloads from Beeline's App Armenia platform

From Now on VTB Bank (Armenia) Cardholders can Automatically Check their Card Account Balance

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, 00:05

 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). 
}
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.

Send to a friend

To (e-mail)


Your name


Message


Comments

View comments (0)
  • READ ALL COMMENTS
  • POST A COMMENT

Be first to comment on this article

* Indicates required fields
Classifieds

ArmInfo News Agency -vacanсy

TITLE: Russian – English Translator LOCATION: Yerevan, Armenia EMPLOYMENT TYPE: Part-time JOB DESCRIPTION: ArmInfo News Agency is looking for a Russian-English translator to work evening shifts. Graduates are encouraged to apply. APPLICATION DEADLINE: 15 July 2015 PROBATIONARY STATUS: at least 1 month depending on the progress