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Matthew Bryza suggests excluding OSCE Minsk Group from Karabakh peace process

MP: Prosperous Armenia feels free to demand government dissolution, if necessary

"Heritage": further strategy of non-government three to be determined at the beginning of February

Uruguayan President: Let's not forget about unrecognized Armenian Genocide

Nikolay Bordyuzha: CSTO cannot give military response to escalation of tension along contact line of Azerbaijani-Armenian troops

Expert: Israel's policy on Armenian Genocide will not change

Armenian policeman accused of robbing houses of Iranians living in Yerevan

Analyst: It is the military-political balance rather than the Russian base that defends Armenia against Turkey

Government of Armenia says they have fulfilled all the demands of salespersons, but they continue to rally

Armenian expert: The key reason why the Armenian authorities are behaving like ostriches is that their boss is going to leave them

Parliamentary opposition suggests convoking special parliamentary session on turnover tax law

Prime Minister: Armenia is preparing to resist global economic war

VimpelCom Ltd., announces the launch of its "Make Your Mark" initiative

Fatih Akin's "The Cut" to be screened in Armenia and Russia starting from Feb 19

Expert: Turkey will try to make up a format for its participation in events to be organized by Armenia to commemorate 100th year of Armenian Genocide

Political expert: 2015 will see no breakthrough in Nagorno-Karabakh peace process

Armenian expert: Permyakov case will be used as pretext for planned withdrawal of 102nd Russian military base from Armenia

Expert: Growing tension in the Karabakh conflict zone bears no relation to upcoming centennial of the Armenian Genocide

France-Artsakh Friendship Circle supports OSCE Minsk Group's charges against Azerbaijan

James Warlick: "The reported use of 'drones' above or across the Nagorno-#Karabakh line of contact is a provocation"

One more concert on sidelines of Edgar Oganesyan-Fest in Yerevan

Criminal case opened over death of soldier in Yerevan

President of Turkey calls for opening archives and submitting Genocide issue to historians

The Pan-Armenian Declaration On The 100th Anniversary Of The Armenian Genocide Promulgated

New appointments at VTB Bank (Armenia)

Armenian President: Denial of Armenian Genocide turns present-day Turkish authorities into accomplices to the crime committed by Young Turks

President Serzh Sargsyan attends opening of Komitas Museum-Institute

Spokesman of Armenian DM: I will not be surprised if tomorrow Azerbaijan destroys an Armenian intercontinental ballistic missile

Action of protest held in front of OSCE Office in Yerevan

Tension on Line of Contact is unlikely to develop into large-scale military operations, Azeri expert says

Well-known actor Vardan Petrosyan sentenced to 5 years in jail

Armenian Defense Ministry: Two Armenian servicemen wounded as a result of Azeri sabotage attack

Small business representatives heading towards president's residence protesting against Law on Turnover Tax

Azeri raiders convicted in Artsakh apply to Court of Appeal

Gevork Kostanyan: Armenian people had to protect their own history against distortion at ECHR

Haaretz: President of Israel touches upon Armenian Genocide

Francois Hollande calls on Turkey to dispel stereotypes and recognize Genocide of Armenians

Armenian armed forces rebuff a new Azeri sabotage attack on the border in Tavush region

Armenian delegation to PACE voices issue of Armenian Genocide in Ottoman Turkey

Small HPPs constructed on rivers to get green passports

Verdict on "Perincek vs. Switzerland" case will be announced within 6-8 months

Official Stepanakert thinks extradition of Dilham Askerov may not be debated

OSCE Minsk Group co-chairs voice their concern over growing tensions in Karabakh conflict zone

Eduard Sharmazanov: "OSCE MG's latest statement was unprecedented, as the mediators took Baku down a peg for the first time ever "

President of Armenia: "Artsakh's right to live in freedom is undisputable"

Artsvik Minasyan: Any integration is senseless for unreformed economy of Armenia

Armenia's Energy Ministry plans to sell part of Nairit Plant's assets

Armenian Defense Minister: Transfer of Valery Permyakov to Armenian law-enforcers was not discussed at the meeting with Arkady Bakhin

Expert: Armenian law-enforcers are not involved in Permyakov case investigation to full extent

British Film Festival 13th Love Edition to kick off in Yerevan on Feb 14

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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