Wednesday, December 5 2012 18:44
Armenia's foreign debt to increase by 8.1% in 2012
ArmInfo. Armenia's foreign debt will grow by 8.1% in 2012, and by 4.7% in 2013 to $4.042 bln (up 13.3% versus 2011). In the structure of the foreign debt, the debt of the Central Bank of Armenia (CBA) will drop by 3.6% in 2012 and by 10.5% in 2013 to $532.5 mln (down 13.7% versus 2011). In the total national debt of Armenia, the share of foreign debt will decline by 86.4% to 86.2% in 2012 and to 85.1% in 2013.
The draft state budget of 2013 fixes 6% growth of the total national debt to $4.747 bln (up 15% versus 2011). In its structure the share of internal debt will be 14.9%, or $705.1 mln (up 14.2% versus 2012 and up 25.8% versus 2011). In 2012 the total national debt of Armenia will increase by 8.4% to $4.477 bln.
Internal sources will allocate nearly 55.1 bln AMD to finance the 119.8 bln AMD (2.64% of GDP) budget deficit in the draft budget of 2013Ј. This will be done mostly at the expense of government bonds, as well as revenues from redemption of budget loans earlier provided to economic entities. The external sources of financing of the budget deficit are the international organizations that provide preferential loans (the World Bank, for instance) and foreign countries.
According to the Armenian National Statistical Service, over Jan-Sept 2012 the foreign debt of Armenia grew by 4.8% (6.4% growth versus Jan-Sept 2011) to over $3.7 bln. The internal debt grew by 7.9% (25.7% growth versus Jan-Sept 2011) to 233.273 bln AMD ($574.2 mln). In the structure of foreign debt, the share of the Armenian Government made up 84.1%, or $3.2 bln, and the share of the CBA - 15.9%, or $594.7 mln.
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