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Interfax, Russia
April 28 2012
Armenian state debt at 41.7% of GDP at end-2011
YEREVAN. April 28
Total Armenian state debt stood at $4.129 billion at the end of last
year, representing 41.7% of GDP, Deputy Armenian Finance Minister and
treasury chief Atom Dzhandzhugazian told the press on Saturday.
The Finance Ministry had predicted that state debt would amount to
41.3% of GDP at end-2011.
Dzhandzhugazian said that foreign state debt amounted to $3.568
billion, or 36.1% of GDP, at the end of last year. Domestic state debt
was $560 million, or 5.7% of GDP. Of foreign debt, government
obligations accounted for $2.951 billion, or 29.8% of GDP and Central
Bank of Armenia obligations to $617 million.
As of March 31 this year, Dzhandzhugazian said, Armenia's state debt
was at $4.196 billion, including $3.634 billion in foreign debts ($3.3
billion - government, $631 million - Central Bank), and $562.2 million
in domestic debts.
During the financial crisis, Armenia's debt burden doubled,
Dzhandzhugazian said, although the country continues to be thought of
as a country with a low debt level. The cost of servicing state debt
will be rising until 2015, and then it will start to go down, he said.
Per its state-debt law, Armenia can increase that debt to 50%-60% of
GDP, while the government is obligated to keep the country's budget
deficit to no more than 3% of GDP.
Cf
April 28 2012
Armenian state debt at 41.7% of GDP at end-2011
YEREVAN. April 28
Total Armenian state debt stood at $4.129 billion at the end of last
year, representing 41.7% of GDP, Deputy Armenian Finance Minister and
treasury chief Atom Dzhandzhugazian told the press on Saturday.
The Finance Ministry had predicted that state debt would amount to
41.3% of GDP at end-2011.
Dzhandzhugazian said that foreign state debt amounted to $3.568
billion, or 36.1% of GDP, at the end of last year. Domestic state debt
was $560 million, or 5.7% of GDP. Of foreign debt, government
obligations accounted for $2.951 billion, or 29.8% of GDP and Central
Bank of Armenia obligations to $617 million.
As of March 31 this year, Dzhandzhugazian said, Armenia's state debt
was at $4.196 billion, including $3.634 billion in foreign debts ($3.3
billion - government, $631 million - Central Bank), and $562.2 million
in domestic debts.
During the financial crisis, Armenia's debt burden doubled,
Dzhandzhugazian said, although the country continues to be thought of
as a country with a low debt level. The cost of servicing state debt
will be rising until 2015, and then it will start to go down, he said.
Per its state-debt law, Armenia can increase that debt to 50%-60% of
GDP, while the government is obligated to keep the country's budget
deficit to no more than 3% of GDP.
Cf