ArmInfo. The growth of Armenia's state debt in January 2017 by 17.4% to $ 5.97 billion (2.9 trillion AMD) compared to January 2016, due to growth in both external and internal debts.
According to preliminary data of the Armenian Ministry of Finance, provided by the National Statistical Service to ArmInfo, if in two years the external debt increased by 11.9% to $ 4.84 billion (2.4 trillion drams), the internal amounted by 47.3% to $ 1.13 billion (551 billion drams). As a comparison, in January 2016 compared to January 2015, the growth of external debt and internal debt was the same 17.2% and it increased its total debt of Armenia by 16.7%.
In the structure of external debt 89.4% or $ 4.3 billion, accounted for the government's share, while the remaining 10.6% or $ 511.2 million is the share of the Central Bank. Moreover, the government's foreign debt increased in January 2017 compared to January 2016 by 13.2%, against which the Central Bank of the external debt increased more modestly by 7%, against higher growth rate in January 2016 compared to January 2015 - 17.8% and 12, 4% respectively.
In the structure of the domestic debt the dominant is the government bonds - in January 2017 the share remained at 91% ($ 1.03 billion or 500.9 billion AMD), with an annual growth of the absolute value by 53.7%. Followed by Armenian Eurobonds - $ 95.6 million, or 46.5 billion AMD, the share of which remained in January at 8.4%, with an annual decline in the absolute value of 0.5%. The rest falls on the share of guarantees - 0.6% ($ 7 million), with an annual increase in absolute value by 3.5 times. Commercial loans also zeroed in November 2015.
At the end of 2016, the share of the state debt in GDP of Armenia was 56.7%, against the forecast of the World Bank (WB) by 52.5%. In 2017 the World Bank predicts a share of Armenia's state debt to GDP ratio of 53.8%, and 53.5% for 2018. The growth of Armenia's GDP in 2017 according to the World Bank predicts will be 2.7%. According to Central Bank forecasts GDP growth by 2.2-3.2% in 2017. The Armenian State Budget for 2017, GDP growth by 3.2% is foreseen. According to statistical data, Armenia's GDP in January-December 2016 amounted to 5.068 billion AMD or $ 10.5 billion, an increase compared to January-December 2015 by 0.2%.
To note, the growing public debt and high migration have deepened the debt burden per capita to $ 2 thousand as of 1 January 2017, of which over $ 1.6 thousand comes from external debt (from $ 550 in 2009). Taking into consideration the real extent of the migration burden of debt per capita would have been much higher (according to the statistical data as of 1 January 2017, the number of Armenian population was 2.987 million against 2.999 million a year earlier and 3.274 million five years earlier). During 2016 the coverage of external debt foreign exchange reserves increased from 41.1% to 45.9% due to the growth of external debt during this period by 11.6%, with an increase in reserves by 22.2%.