Newsfeed

Armenian DM: If united Armenian nation can overcome all threats

Armenian President: Armenian-Turkish protocols may shortly be removed from the Armenian Parliament's agenda

Armenian FM: Armenia's decision to join Customs Union and Eurasian Economic Union comes from its economic and strategic interests

The foundations of the South gas corridor laid

Diaspora politician: Many Diaspora investors are scared off by corruption in Armenia

Hay Dat representative: In contempt of Azerbaijan's oil diplomacy, EU is increasing its pressure on that country

Pope receives Armenian President

Nagorno-Karabakh welcomes referendum in Scotland

Cicek: Fair resolution of Nagorno-Karabakh conflict requires efforts by not only Azerbaijan but each person regarding himself as Turk

The Armenian Eye Care Project and Orange Foundation continue free eye care services in Syunik region, with over 1500 inhabitants benefitting from it

NKR foreign minister: Armenia's joining Eurasian Economic Union will not result in establishment of the customs point between Armenia and Karabakh

Hrant Margaryan: Change of Armenian Constitution to prevent attempts of establishment of anyone's personal power in Armenia

Ilham Aliyev again blames Armenia for non-constructive position

Ara Abrahamyan: Pan-Armenian Council will be set up to coordinate Armenian lobbyists' activities worldwide

Bako Sahakyan: Armenia-Artsakh-Diaspora trinity among cornerstones of independent Armenian statehood

Aram I: The Armenian state has numerous problems related to crimes, illegal phenomena and shortage of justice

Aram I: We should add the term "compensation" to "recognition and condemnation" when speaking of Armenian Genocide in Ottoman Turkey

Hovik Abrahamyan: Consolidation of Armenia, Artsakh and Diaspora will increase influence of the Armenian factor both in the region and in the world

President: Azerbaijan's demolition of Armenian cultural and historical monuments has not received appropriate response of international community

Serzh Sargsyan: There is no alternative to recognition and condemnation of Armenian Genocide

"Super 0 Daily" service is now available also for "Dialect" tariff plan subscribers

Beeline awards winners of What Does Fortuna Mean to Me? photo contest

Head of Kapan Meat Factory conditionally sentenced to three years in jail

Armenia among the countries that have achieved greatest success in reducing the total number of hungry people in proportion to their national population are

Seyran Ohanyan: I hope the incident that resulted in Armenian soldier's death will not remain unpunished

VTB Bank (Armenia) enlarges its partnership with Spayka

Ukraine’s Ambassador to Armenia: The next phase of development of the Ukraine-EU relations may be only Ukraine's EU membership

Armenian archaeologists promise to up-end concept of early humans' migration

Armen Martirosyan: Parliament's non-governmental 'troika' anticipating ARFD's return after 10 October

Hakob Andreasyan: Current reforms are as important as those conducted in privatization period

"SIP Talk"- calls to local and international destinations via fixed phone line at affordable tariffs

In 2015 Ameriabank intends to increase its corporate lending portfolio to 520 mln USD and retain leadership in Armenia's banking system

Anelik Bank issues Simple Fast Auto card loan

Hakob Andreasyan: We try to ring-fence farmers from untypical risks

Rustamyan: ARFD's refusal to take part in parliamentary opposition's rally does not mean refusal to cooperate with the forces

RPA members hold confidential meeting

ARFD 'throws up its cards' - it seems the parliamentary four is becoming a three

Heritage Party puts into circulation Armenian Parliament's Bill suggesting official recognition of Nagorno Karabakh Republic

Lydian International Limited plans initial $426 million investment in Amulsar gold project in Armenia in 2015-2016

Orogen Gold raised 1,125,000 pounds through the placing of 1,022,727,272 ordinary shares at LSE

Air France cancels its flights to Armenia due to a strike

Parcels from U.S. do not reach Armenia

Armenian and Polish Foreign Ministers hold political consultations

Exclusive

Ukraine’s Ambassador to Armenia: The next phase of development of the Ukraine-EU relations may be only Ukraine's EU membership

Hakob Andreasyan: Current reforms are as important as those conducted in privatization period

Hakob Andreasyan: We try to ring-fence farmers from untypical risks

Giorgi Gvimradze: Russia's fate hangs in the balance in Ukraine

In NK peace, it is necessary to pay attention to other processes in Scotland and Catalonia

Armenia’s ex Defense Minister: We have enough options to advance to the north of Azerbaijan

Ivan Kuhta: Difference of our political orientation will not affect Ukrainian-Armenian relations

Zardusht Alizadeh: Arriving in Sochi, Aliyev and Sargsyan once again demonstrated the world that Russia is still the demiurge in the Caucasus

Masis Mailyan: Unlike Azerbaijan, global centers of force are not interested in growing tensions in Nagorno-Karabakh conflict zone

Sergey Grinyayev:The West’s sanctions are extremely positive for the Eurasian Union project

Alexey Kolomiyets: West's sanction will hardly sober Putin and the Kremlin

Hrant Bagratyan: Sanctions will have tangible impact on Armenia

Georgi Kolarov: The second Nagorno-Karabakh war is inevitable

Artashes Shaboyan: Reduction in consumer demand has a negative effect on supermarkets

Tigran Davtyan: If you have a telephone with you, it means that you have a wallet with you too

Shmuel Meirom: Israel is willing to contribute of its experience in the field of economy, but it cannot force Israeli business to invest in Armenia

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
Video of the day
Fire burning car in the yard

More

Classifieds

Help in searching for missing rare breed dog "malamute".

A. Shiboyan asked the Arminfo Editorial to help her in searching for her missing rare breed dog "malamute".