Armenia's national debt dangerously increases

Armenia's national debt dangerously increases

Armenia's national debt has made up $6,675,000,000 in late 2017, in which the government’s share is $6,173,000,000, the country's minister of Finance Atom Janjughazyan said.

Speaking during the debates at the joint meeting of the committees of the National Assembly, he noted that the foreign debt of the government totaled $4,893,000,000, and the rest is the domestic debt of the government.

"The level of the total debt was 58.8% of the GDP. It has a certain increase in the dynamics," cited Janjughazyan as saying.

According to the minister, if the foreign national debt/GDP ratio is lower than 50%, it is estimated to be manageable; and in Armenia’s case, this ratio is 48.5%.

"The service/export ratio of the national debt made up 6.8%," the finance minister added.