Rostelecom to hold events enhancing computer literacy in Armenia

Ameriabank signs 25 mln USD syndicated loan agreement with FMO and OeEB for financing of SME and renewable energy

Ucom subscribers can pay for services at VTB Bank (Armenia) round the clock

Baku criticizes Russia24 channel

Prosecutor General's Office institutes a criminal case based on files submitted by Levon Zurabyan

Beeline Armenia CEO presented "Success Path" lecture for Leaders' Club members

National Philharmonic Orchestra has marked closing of concert season 2015, emphasizing role of VivaCell-MTS in implementation of initiatives of orchestra

Court upholds motion of Armenia's National Security Service to arrest Arthur Vardanyan

All countries of CIS Inter-Parliamentary Assembly, except Azerbaijan, condemn downing of Russian plane by Turkey

National Security Service of Armenia: Detained citizens start giving evidence

Naryshkin to Ankara: Crimes of the past should be condemned properly

Raffi Hovannisian's political passivity reason is two weddings and several funerals

Expert: Promises of paradise in Armenia "roam" from one constitutional referendum to another

Yerevan: Selective approach to principles and elements in Karabakh peace process will make settlement impossible

Illegitimate regime that seized power in Armenia must leave: Raffi Hovannisian

New Armenia Front: Zhirayr Sefilyan's wife attacked

Zhirayr Sefilyan: KGB-style government in the country remained in the past

INECOBANK launches "InecoQuest" adventure contest under "Open the cashbox full of millions" motto

Geoteam CJSC invested 240 thousand USD in its social projects in 2015

VivaCell-MTS: From now on "Personal", "City Talks" and "Special" tariff plans are also available to non-residents living in Armenia

German Ambassador: Terror attacks in Paris were aimed not only against France but all Europe and pan- European values

Armenian National Congress: Information that one of criminal group's detainees is connected with opponents of Constitutional reforms is dirty propaganda

Call Center of VTB Bank (Armenia) daily serves an average of 3000 incoming and outgoing calls

Beeline "Call Me +" service subscribers can send messages abroad requesting to call back

Levon Zurabyan to provide Prosecutor General with video showing attempts to bribe "No!" Front proxies

Minister says situation around Football Federation of Armenia will come to light soon

SCR achieves profitability due to rigid balance between revenues and expenses and launch of resource- saving projects

Deputy Minister of Foreign Affairs of Armenia welcomes possible criminalizing of Armenian Genocide denial by Russia

Deputy Foreign Minister: Use of Russian military base in Armenia should be agreed with Armenia

Hovhannes Sahakyan to Levon Ter-Petrosyan: Profound Constitutional reforms will help Armenia to counter external challenges

Beeline announces sales of Beeline Smart Dual, Beeline Smart 2 and Beeline Smart Pro ahead of New Year holidays

Syunik governor's son appointed assistant to director of "ArmForest" SNCO

Levon Ter-Petrosyan: It appears that the advocates for the Constitutional amendments have nothing to do but swear up and down

Eduard Sharmazanov to tell Russian lawmakers about Armenia's positive opinion on Russian bill criminalizing Armenian Genocide denial

Levon Ter-Petrosyan: It appears that the advocates for the Constitutional amendments have nothing to do but swear up and down

Sharmazanov: Incidents of downing of Armenian helicopter over Karabakh and Russian plane over Syria have the same modus operandi

Nikolay Silayev: Risk of deployment of a "third front" around Karabakh is rather high

VivaCell-MTS invests 7.9 bln AMD in cultural projects over past 10 years

Rostelecom Armenia: Awarding ceremony of "Thank You, Internet 2015" contest to be held on November 30

VivaCell-MTS has invested 23.6 bln AMD into social projects during 10 years

Orange Foundation to invest 51 mln AMD in Zangakatun border village

Beeline Child Development Corners opened in Aragatsotsn region

Bill on establishing responsibility for not recognizing Armenian Genocide by Turkey introduced into State Duma

Political expert: Russia will not involve its 102nd base in Armenia in conflict with Turkey

New Armenia refutes information that the detained criminals have ties with New Armenia Front

NSS: Organized criminal group intending to commit grave crimes in Armenia disclosed

US official says final status of Nagorno-Karabakh subject of OSCE Minsk Group-led international negotiations

Emergency situation in Yerevan: National Security Service and Police prevent possible terror attack

ARARATBANK announces 10th jubilee issue of coupon bonds guided by investors' high demand for currency dealing

Sociologist: 75% of Armenian women undergo violence

Finance Minister: Growth of foreign debts not critical for Armenia

  • Tuesday, June 10, 17:32

 The growth of foreign debts is not critical for Armenia.  In addition, given the current situation, Armenia will continue the policy of raising foreign loans. The statement came from Deputy Minister of Finance, Chief Treasurer of Armenia Atom Jhanjugazyan, in response to the question by MP Naira Zohrabyan (Prosperous Armenia Party) as to why the raised loans do not help reduce migration, poverty and unemployment in the country. 

The chief treasurer said Armenia is among the countries with minimum level of foreign debts and there are no risks to service of these debts. He brought the example of the long-term Russian loan (10 years).  Armenia successfully manages foreign borrowings, he said. Jhajugazyan disclaimed the opposition's accusations about the growing migration, poverty and unemployment. The foreign borrowings and the proceeds from state property privatization are used to fund the budget deficit, he said.  

In Jan-Apr 2014 as compared with Jan-Apr 2013 Armenia's foreign debt grew by 1.5% to 1.606tln AMD ($3.888bln) or 85.2% of the state debt. In Apr 2014 it grew by 0.6%.According to the National Statistical Service of Armenia, 87.3% of the foreign debt or $3.394bln was the Government's debt, 12.7% or $494.1mln was the debt of the Central Bank. 

As of May 1 2014 Armenia's state debt totaled 1.884tln AMD or $4.560 (0.1% more than in Mar 2014 and 1.2% more than in Jan-Apr 2014), wherein the share of the internal state debt was 14.8% or 227.8bln AMD ($672.5mln).

In 2013 Armenia's foreign debt grew by 5%. GDP grew by 3.5%. The share of the state debt in GDP was 44%, that of the foreign debt 37%.  Officially, per capita debt made up $1,500, but experts believe that due to continuing emigration it must be higher.
As of Jan 1 2013 Armenia's state debt made up 1.8tln AMD or $4.4bln, foreign debt 1.5tln AMD or $3.7bln, internal debt 225.5bln AMD or $633mln, gold and foreign currency reserves $1.8bln. 

As of Jan 1 2004 state debt made up 1.9tln AMD or $4.6bln, foreign debt 1.6tln AMD or $3.9bln, internal debt 279.7bln AMD or $689.4mln.

Send to a friend

To (e-mail)

Your name



View comments (0)

Be first to comment on this article

* Indicates required fields