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Richard Hovhannisian: Obama's Annual Statement on Armenian Genocide to Be Very Much Different from Previous Ones

Cavusoglu: Turkey to Pursue Efforts on Restoration of Armenian-Turkish Confidence

Pastor of Berlin Protestant Church Prince Philip Kirill of Prussia apologizes to Armenians for Germany and his grandfather Kaiser Wilhelm II

European Parliament's resolution on Centennial of Armenian Genocide important message to Turkey

U.S. Senators introduce legislation seeking durable Armenian-Turkish relations based on Turkey's "full acknowledgment" of Armenian Genocide

Armenian National Assembly Unanimously Adopting Statement on Armenian Genocide Centennial

Armenian Parliamentary Delegation to PACE Raising Armenian Genocide Issue

President of Georgia not to attend Armenian Genocide Centennial commemorations in Yerevan

Charles Aznavour: I am an optimist and I have no concerns about anything

Gayane Novikova: The South Caucasus states are trapped by the Ukrainian crisis

U.S. Armenian community criticizes Turkish prime minister's message

Davutoglu: "Ceremony will be held in Istanbul to commemorate Armenians killed a century ago by Ottoman Turks"

Die Welt: German Chancellor to Define 1915 Massacres as Genocide

Together with all Armenians Orange commemorates the Armenian Genocide Centennial

Rostelecom CEO Delivers a Lecture at AUA

Charles Aznavour: Ankara's current policy is nothing but continuation of Ottoman Turkey's policy

President of Serbia to visit Yerevan on April 24

Eduard Sharmazanov: Only criminalization of genocide denial can "close doors to" new genocides

Vigen Sargsyan: Kazakhstan not to attend Armenian Genocide Centennial events

German Minister of Foreign Affairs: 1915 Events Can be Called Genocide

Head of party: National Revival undergoes pressure by NKR authorities

Political expert: Turkey is shocked

Etyen Mahcupyan drops a hint that he was dismissed because of his statement on Armenian Genocide

Founding Parliament: National Revival representatives undergo persecutions in electoral campaign in Artsakh

Vladimir Putin to visit Yerevan on April 24

Turkish scholar criticizes Ankara's decision to celebrate Gallipoli Victory Centennial on April 24

Nils Muiznieks: "The deportation and massacre of Armenians by the Ottoman authorities was a massive violation of human rights"

Ankara sets preconditions to Yerevan

Turkish scholar criticizes Ankara's decision to celebrate Gallipoli Victory Centennial on April 24

In Armenia, presidents of France and Russia to discuss issue of Mistral amphibious assault ships

Soldier Artyom Tovmasyan Died in the Road Traffic Accident of "Ural" Military Vehicle

Ashot Manucharyan: Russia Does Not Need Parliamentary Armenia

Encyclopedia Britannica renames article "Armenian Massacres" into "Armenian Genocide"

Samvel Farmanyan: Turkey will recognize Armenian Genocide and will do it under pressure of its own public

President of the Republika Srpska: We should make out contribution to fight against Genocide denial

Arrested member of Founding Parliament Movement goes on hunger strike

Greece will be represented at level of parliament speaker at Armenian Genocide Centennial events in Yerevan

Views from Brussels: All EU countries welcome new economic ties if sanctions against Iran are lifted

Expert: By turning Armenia from EU to EEU, Putin's Russia is all the same unable to build "integration" on fear and blackmail

View from Brussels: Though the Russians can Stoically Endure Privations, Putin Should Estimate the Future Scenario of Russian Economic Isolation

Russian Polymetal International plc to Re-Activate Lichqvaz-Tey Mine

Putin hopes conflict situation around Pope's statement on Armenian Genocide will be settled

1st and 2nd Issue of Foreign Currency Denominated Bonds by ARMSWISSBANK Placed at NASDAQ OMX Armenia

Rostelecom Launching a New Project together with the faculty of Radio Engineering and Communication Systems of National Polytechnic University of Armenia

Turkish PM's top adviser Etyen Mahcupyan dismissed after Genocide remarks

Azerbaijan's Foreign Ministry slams European Parliament's resolution of Armenian Genocide centennial

ANCA: European Parliament Armenian Genocide Vote Shines Spotlight On President Obama

Erdogan: "Decision the European Parliament would go in one ear and out the other"

Offended at Europe, Ankara makes feeble attempt to shuffle off the blame for Genocide on to Europe

US Ambassador to Azerbaijan says United States may not attend Gallipoli Victory events

Exclusive

Gayane Novikova: The South Caucasus states are trapped by the Ukrainian crisis

Ashot Manucharyan: Russia Does Not Need Parliamentary Armenia

Samvel Farmanyan: Turkey will recognize Armenian Genocide and will do it under pressure of its own public

Yana Amelina: "Weapon strategy" of Moscow will stop only after world geopolitical balance is restored

Vardan Voskanyan: Iran assumes functions of "a gendarme" to remove chaos in Middle East

“Angels” and “Demons” of Film Director Hovhannes Galstyan

Andrey Areshev: Karabakh-related humanitarian initiatives from Russia could be useful

Sevak Sarukhanyan: Concerns about possible emergence of ISIS in Azerbaijan focus Tehran's attention on Baku

Alexander Zinker: Israel has never before been so close to recognition of Armenian Genocide

Andrey Yepifantsev: Russia and Armenia have what to keep silence about

Promise to convict Permyakov at 102nd Russian military base in Armenia is already a big gesture of Russia

Ruben Safrastyan: Turkey fears consequences of Armenian Genocide denial

Serious trends of geopolitical changes in South Caucasus lead to clashes and redrawing of borders

Armenian Men are Also Eager to Look Young

Karine Danielyan: The women who prefer being mothers deserve the same respect as female politicians

Georgian political expert: Putin has put his mind on implementing Primakov Doctrine

Gagik Mkrtchyan: Our country not only can but also should develop industrial production

Arthur Ashughyan: Future of lapidary industry depends on how competitive and efficient it is

Avaz Hasanov: OSCE MG, Russia, EU, or U.S. can impose no pressure upon Armenia and Azerbaijan in the matter of Karabakh

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.

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