Tuesday, November 15 2016 13:57

ArmInfo. Armenian Finance Minitry tries to set  an environment, which should give an opportunity to measure the efficiency factor in respect to external borrowings, Atom Djandjoughazyan, the Deputy Finance Minister told journalists in his interview.

According to clarifications of Deputy Minister,  the external loan assets are divided in two categories:  directed funds, which are being borrowed within  a purpose of a certain project implementation, and otjers, which are assigned for funding certain parts of budget.  In both cases, as Finance Ministry representative mentioned, the programmed budgeting will have an exceptional importance while setting the tools for efficiency factor estimation within the activities on budget development.

"There is a lot of things to do. But once we start the programmed budgeting, we will have an opportunity to estimate the results expected from the borrowed assets. And only in that case the conclusion on efficiency of loan assets use could be made," Deputy Minister stated.

The aggregate state debt of Armenia will grow to 54.6% of GDP by late 2016. According to the Armenian Finance Ministry's forecast, this indicator will make up 56.1% in 2017.  As of October 31, Armenia's state debt totaled $5bln 607mln, or 2 665 bln AMD. In the state debt, the government's debt amounted to $5bln 108mln, or 2 428 bln AMD, of which the foreign debt is $4bln 45mln, or 1 923 bln AMD, and the internal debt is $1bln 63mln, or 505 bln AMD. The Central Bank's debt amounted to $499 mln, or 237 bln AMD, of which $148mln or 70 bln AMD is government-guaranteed loans.