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Armenia's Foreign Debt To Total 3.5bn In 2010

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  • Armenia's Foreign Debt To Total 3.5bn In 2010

    ARMENIA'S FOREIGN DEBT TO TOTAL 3.5BN IN 2010
    Hasmik Dilanyan

    "Radiolur"
    10.11.2009 17:27

    A 15% economic decline will be registered in Armenia by the end of
    this year, Gagik Minasyan, Chairman of the Standing Committee on
    Financial-Credit and Budgetary Affairs of the National assembly,
    told a press conference.

    Some economic growth is expected next year, but the forecasts may
    prove false. "The analyses show that Armenia has reached the bottom
    of economic decline, but, unfortunately, we cannot make forecasts
    about economic growth," Minasyan said.

    He said that Armenia's foreign debt will reach U.S. $3bn this year,
    and U.S. $3.5bn next year. O compare, Armenia's foreign debt totaled
    1.5bn in 23008."Armenia is negotiating to attract credits now,"
    Minasyan said. He also pointed out that the unallowable limit of
    foreign debt is 50%, but Armenia has not yet reached the point.
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