Wednesday, July 6 2011 15:44
Gross foreign debts of Armenia up 4.4% to $6.6 bln for Q1 2011
ArmInfo. Gross foreign debt of Armenia was up 4.4% or $275.87 mln for Q1 2011 to $6564.37 mln as of April 1 2011. Gross external assets were up 10% or $251.13 mln and totaled $2773.39 mln. In fact, net external debt grew 0.7% for Q1 2011 or $24.74 mln to $3790.98 mln.
By data of the Finance Ministry of Armenia provided to ArmInfo by the National Statistical Service, 42.86% (or $2813.59 mln - mostly long-term loans) was the share of state government debt. 18.70% ($1227.32 mln, including $627.76 mln long-term loans and $514.37 mln disposable fund and deposits) was the share of commercial banks. 17.06% ($1119.78 mln, including $833.32 mln long-term loans, $159 mln short-term loans) was the share of the private sector. 11.05% ($725.29 mln, including 80% long-term loans) was the share of monetary and credit regulatory bodies, and another 10.33% ($678.39 mln) were direct foreign investments in terms of inter-company loans in various sectors of economy. In the structure of foreign debts short-term loans to commercial banks fell 9% to $66.48 mln and long-term loans grew *5 to $627.76 mln.
By the final data of the Finance Ministry as of Dec 31 2010 gross foreign debt totaled $6288.50 mln and gross external assets - $2522.26 mln, in fact net foreign debt totaled $3766.24 mln. These figures as of April 1 2010 were as follows: $5149.11 mln, $2481.32 mln, and $2667.79 mln. GDP of Armenia for Q1 2011 totaled 615 bln drams ($1.7 bln). The growth versus Q1 2010 was 1.2%.
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