Armenia’s debt surged by $267.5 million

Armenia’s debt surged by $267.5 million

Armenia’s aggregate state debt surged by 5.3% or $267.5 million from the beginning of the year reaching $5.345.2 billion at the end of June, according to the latest numbers, released today by the National Statistical Service (NSS). In June alone the total state debt increased by 1.3%.

According to official data, the country’s external debt increased by 0.88% or $39.9 million from May to $4.470.3 billion in late June 2016.

The government’s external debt grew by $31.2 million from May to about $3.973.2 billion, while Central Bank’s external debt increased by $8 million to $497.1 million. 

The domestic debt of the country at the end of June stood at $874.8 million, an increase of $29.3 million from the previous month. About $784.76 million were owed to resident holders of government bonds. The debt to holders of government USD-denominated bonds stood at $81.1 million and another $8.9 million were government guarantees.

According to the state budget, the country's public debt in 2016 is expected to make 49.4% of the projected GDP, while the ratio of external debt to GDP will make 42.8%. The size of public debt by the end of 2016 is supposed to amount to $5.569 billion, of which 86.6% will be external debt, reports.