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Vardan Poghosyan: Armenian authorities ready for compromises on constitutional reforms

Azerbaijan breaches ceasefire about 100 times overnight

Mass Media: Armenian criminal lords prefer lobbying their interests at highest state level

Ashot Manucharyan: Armenia caught the idea to reform Constitution from the West

Tevan Poghosyan: Armenia experiences no positive results from EEU membership

Beeline continues cooperation with Nakashian Children's Home

Actor Vardan Petrosyan will be serving his sentence at prison with open regime

Economist: Armenia can refuse single currency of EEU if it wants

Two years of Armenia's Eurasian path have deteriorated situation in almost all areas, Union of Informed Citizens says

A fragment of ceramic boiler has been found in the lake Issyk Kul with Armenian and Syrian letters in the seals

Study: Vacation budget of the RA citizens does not exceed USD 500

Beeline "Twins" Service - unlimited Internet at home and on the phone

Parliament Speaker: PACE should prevent Baku's non-democratic actions

Expert: Monopoly in fuel market will not allow reducing fuel prices in Armenia

Expert: Hybrid form of governance is best possible option for Armenia

VTB Bank (Armenia) keeps supporting improvement of School No.21 of Russian Defense Ministry

MP: During Lavrov's visit to Baku, Azerbaijan used all mechanisms to get concessions in Karabakh peace process

10,000-year-old bison bone found at bottom of Lake Sevan, Armenia

Armenian Foreign Ministry disclaims reports on seizure of Armenian quarters in Damascus by ISIL

Personal income tax for Armenian citizens in Russia is 13%

"No To Plunder! and "Rise Up, Armenia!" movements to be fighting against electricity price hikes in Armenia together

"No To Plunder!" movement to march against electricity price hikes on Sept 11

Vatican beatifies catholic bishop murdered during 1915 genocide

Union: Armenian government has made a decision to ease the consequences of electricity price hike, unaware of how much it will cost the country

Head of SCRW: the dynamic of safety assurance indicators improved twice

The new Turkish Minister for the Affairs with the EU: Massacre of the Armenians happened and it is recognized by all countries

Detained activists of No To Plunder! Movement set free

Defense Ministry: Two Armenian soldiers wounded as Azerbaijan breaches ceasefire on Armenian- Azerbaijani border

Five activists were arrested on Baghramyan Avenue

Konstantin Kazenin: Turkey and Iran have no technologies to increase their influence in the North Caucasus so far

Galust Sahakyan: Armenian authorities fear no movements coming out against constitutional reforms

Hovik Abrahamyan expects to receive a high post following constitutional reforms

Azerbaijan breaches ceasefire for about 120 times

Defense Minister: Armenian detachments control the situation

Prime Minister: Economic situation in Armenia depends on EEU countries' economies

40 students of internship program to work at Beeline

CIS countries to do without USD

Criminal case instituted over fact of police's violence against demonstrator

Prime Minister: Arpine Hovhannisyan is one of the probable candidates for justice minister's post

Azerbaijani MFA to "Blacklist" those Foreigners who Attend Lubov Kazanorvskaya's Concert in Stepanakert

Ara Papyan: In geopolitical perspective by having quite favourable conditions to conduct foreign policy, Armenia is not ready to make use of it

Constitutional Court Member: Regardless Drawbacks New Draft Constitution is Considered a Step Forward

Political expert: Turkish authorities make a miscalculation by calling snap parliamentary elections

Head of Russian Sports Federation: Sports laws oblige Azerbaijan to permit Henrikh Mkhitaryan's entry to Azerbaijan

LOT (Poland) to resume flights to Yerevan on 1 Jan 2016

Regional

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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