Monday, April 10 2017 17:16
Karina Melikyan

Growth of Armenia`s gross foreign debt for 12 years to 12% (up to $ 9.95 billion) are mainly conditioned by government loans

Growth of Armenia`s gross foreign debt for 12 years to 12% (up to $ 9.95 billion) are mainly conditioned by government loans

ArmInfo. Armenia's gross foreign debt grew by 12% or $ 1.02 billion in 2006 to $ 9.952 billion (against growth of 6% in 2015). According to the National Statistical Service of the Republic of Armenia, only for the IV quarter of 2016 gross foreign debt increased by 7.7% or $ 711.5 million (against growth of 3.2% in the IV quarter of 2015). For 2012-2016 gross external debt of Armenia increased by 30.4% or $ 2.3 billion.

In the structure of the gross foreign debt of Armenia, the largest share is accounted for the state administration bodies - 44.28% or $ 4.4 billion, with a slowdown in annual growth from 14.7% to 12.8%, but only in the IV quarter by 4.8% (against 8, 3% growth in the IV quarter of 2015). Moreover, long-term loans dominate in the government's debt, the share of which in the annual section has increased from 75.6% to 77.3%, against almost 100% five years earlier. The second place by the size of the foreign debt for banks - 23.4% or $ 2.3 billion with the annual dynamics of 8.7% decline to the 9.5% growth, but only for the IV quarter by 13.9% (against Decline by 0.8% in the IV quarter of 2015). Moreover, long-term loans prevail in the foreign debt of banks, the share of which declined from 52.4% annual to 45.9% ($ 1.05 billion), and in the five-year period from 68.4%. The private sector is on the third place, its share in the gross foreign debt decreased from 16.8% to 15.54% ($ 1.55 billion), with a slowdown in annual growth from 7.1% to 6.2%, but only in the IV quarter by 6.2% (against 15.4% growth in the fourth quarter of 2015), with long-term loans continuing to dominate - 87.1% or $ 1.35 billion (against 86.7% in 2015). Inter-company loans are on the fourth place, the share of which in the gross foreign debt increased from 10.1% to 10.49% ($ 1.04 billion), with a slowdown in the annual growth of the absolute value from 18.7% to 10.6%, but only in the IV quarter by 13% (against the decline of 7.9% in the IV quarter of 2015). The share of the Central Bank in the gross foreign debt decreased from 6.7% to 6.29% ($ 626 million) during this year, with the annual growth rate of the absolute value decline from 5.7% to 4.2%, but only in the IV quarter by a decline of 1.2% (against a 0.4% decline in the IV quarter in 2015), and in the Central Bank's debt the lion's share is long-term loans - 81% or $ 507.12 million.

Gross foreign assets increased by 22.5% in 2016 to $ 4.9 billion, resulting in the net foreign debt growth by 2.4% to $ 5.02 billion. In IV quarter 2016 alone, gross foreign assets increased by 16.8%, which increased gross foreign debt by 7.7%, the net foreign debt increased only by 0.2%. For 2012-2016, gross foreign assets increased by 1% (from $ 4.885 billion), but due to the growth of gross foreign debt by 30.4% (from $ 7.629 billion), net foreign debt increased by 82.8% (from $ 2.744 billion).

To note, in 2015 gross foreign debt of Armenia grew by 6%, gross foreign assets by 5.3%, resulting in net foreign debt increased by 6.5%. In the structure of the gross foreign debt of Armenia, the largest share fell to the state administration bodies - 43.2% or $ 3.9 billion with an annual growth by 14.7%. Then follow:  banks - 23.6% or $ 2.1 billion with an annual decline by 8.7%; the private sector - 16.8% or $ 1.5 billion with annual growth by 7.1%; inter-company loans - 10.1% or $ 944.4 million with annual growth by 18.7%; the Central Bank of Armenia - 6.7% or $ 600.7 million with an annual growth by 5.7%. In 2012- 2015, gross foreign assets decreased by 18.4%, but due to the growth of gross foreign debt by 17%, net foreign debt increased by 81.5%.

POST A COMMENT
Input digits     


News
Armenian ambassador to Greece highlights importance of Armenia`s  active participation in TIF-HELEXPOArmenian ambassador to Greece highlights importance of Armenia`s  active participation in TIF-HELEXPO
Air Arabia plans to sue Armenia at ArbitrationAir Arabia plans to sue Armenia at Arbitration
EFSD conducts workshop on procurement and financial management of  projects EFSD conducts workshop on procurement and financial management of  projects 
Iran-Armenia high-voltage line to be put into operation in few months  - ambassadorIran-Armenia high-voltage line to be put into operation in few months  - ambassador
New Armenal management could start presale preparation New Armenal management could start presale preparation 
Our team is doing everything possible to manage increased traffic  more efficiently - ZvartnotsOur team is doing everything possible to manage increased traffic  more efficiently - Zvartnots
CBA to direct 80% of its annual profit to partly cover interest-free  bill of exchange  CBA to direct 80% of its annual profit to partly cover interest-free  bill of exchange  
Few concerned in Armenia over high pesticide level in food - NGO head Few concerned in Armenia over high pesticide level in food - NGO head 
Head of Economic Competition Protection Commission explains gas price  rise Head of Economic Competition Protection Commission explains gas price  rise 
EFSD to provide $2 mln grant to Armenia for program to improve  quality of financial reporting of public sector organizationsEFSD to provide $2 mln grant to Armenia for program to improve  quality of financial reporting of public sector organizations
WB to provide $110mln loan to Armenia for universal health coverage WB to provide $110mln loan to Armenia for universal health coverage 
Ingo Insurance presents job loss insurance in Armenia`s market Ingo Insurance presents job loss insurance in Armenia`s market 
As long as Pashinyan government remains in power in Armenia, it is  unlikely Armenia will launch a counter bid or join BRICS  - opinion As long as Pashinyan government remains in power in Armenia, it is  unlikely Armenia will launch a counter bid or join BRICS  - opinion 
Cattle productivity improvement programme to be launched in Armenia Cattle productivity improvement programme to be launched in Armenia 
South Caucasus needs unified market without strategic partners -  expert South Caucasus needs unified market without strategic partners -  expert 
New world order to show Armenia can and must cooperate with with all  nations - Tatul Manaseryan New world order to show Armenia can and must cooperate with with all  nations - Tatul Manaseryan 
Armenia needs 600MW NPP - ex-premier Armenia needs 600MW NPP - ex-premier 
Post of Russia considering possibility of mailing to Armenia via  North Ossetia  Post of Russia considering possibility of mailing to Armenia via  North Ossetia  
Advantages of franchising discussed in Armenia with Acba Bank`s  participation Advantages of franchising discussed in Armenia with Acba Bank`s  participation 
Czech Republic to assist modernization of Yerevan metro Czech Republic to assist modernization of Yerevan metro 
Wine output records 32.6% y/y decline in Jan-May Wine output records 32.6% y/y decline in Jan-May 
ICC NCA to assist organization of WCIT2024 in Armenia ICC NCA to assist organization of WCIT2024 in Armenia 
New social vulnerability assessment system to be introduced in  Armenia New social vulnerability assessment system to be introduced in  Armenia 
Armenia`s government to provide AMD 2.2bln to construction  organizations Armenia`s government to provide AMD 2.2bln to construction  organizations 
AMD 4․046․161  to the Strong Mind NGO. July`s beneficiary is the SIA Armenia programAMD 4․046․161 to the Strong Mind NGO. July`s beneficiary is the SIA Armenia program
Wine-filled days of DILIJAN WINE FEST 2024 will take place on August 3 and 4Wine-filled days of DILIJAN WINE FEST 2024 will take place on August 3 and 4
Ardshinbank was again Named Best in Two Categories by Asian Banking & Finance MagazineArdshinbank was again Named Best in Two Categories by Asian Banking & Finance Magazine
Some 20,000 Nagorno-Karabakh Armenians employed in Armenia - official Some 20,000 Nagorno-Karabakh Armenians employed in Armenia - official 
China Southern Airlines launches Urumqi - Yerevan - Urumqi flights China Southern Airlines launches Urumqi - Yerevan - Urumqi flights 
Get 3000 idcoins by synchronizing your Idram and IDBank accountsGet 3000 idcoins by synchronizing your Idram and IDBank accounts
Armenia`s involvement in regional projects emphasized Armenia`s involvement in regional projects emphasized 
Armenian Airlines launches Yerevan-Ufa-Yerevan flightArmenian Airlines launches Yerevan-Ufa-Yerevan flight
Unemployment up in Armenia Unemployment up in Armenia 
Armenia`s economy vulnerable to external shocks - EFSDArmenia`s economy vulnerable to external shocks - EFSD
EAEU Industrial Council considers robotics development programme EAEU Industrial Council considers robotics development programme 
Smart Place: smart solutions for comfort and energy-savingSmart Place: smart solutions for comfort and energy-saving
Russia among Armenia`s major trade partners - Gevorg Papoyan  Russia among Armenia`s major trade partners - Gevorg Papoyan  
Armenia, UAE discuss possibilities of agricultural cooperation Armenia, UAE discuss possibilities of agricultural cooperation 
Expert on `blank spots` of budget planning in Armenia Expert on `blank spots` of budget planning in Armenia 
Armenia`s economy minister to take part in 6th meeting of EAEU  Industrial Policy CouncilArmenia`s economy minister to take part in 6th meeting of EAEU  Industrial Policy Council
No payment via Idram? More than 21,000 points of sale accept payment via IdramNo payment via Idram? More than 21,000 points of sale accept payment via Idram
<Gazprom Armenia> will conduct a survey of underground gas pipelines  with a total length of over 335 km will conduct a survey of underground gas pipelines  with a total length of over 335 km
WB to issue grant to Armenia for environmental protection programmes WB to issue grant to Armenia for environmental protection programmes 
JFPR to issue $3mln grant to improve rural household resilience JFPR to issue $3mln grant to improve rural household resilience 
EBRD to issue EUR 2mln grantfor Syunik customs center  EBRD to issue EUR 2mln grantfor Syunik customs center  
Armenia, Georgia discuss possible implementation of regional  high-tech projects Armenia, Georgia discuss possible implementation of regional  high-tech projects 
Ameriabank and COAF Pool Efforts to Develop Beekeeping in Lori RegionAmeriabank and COAF Pool Efforts to Develop Beekeeping in Lori Region
Deputy Minister of Economy: 58% of Armenia`s agro-food products are  exported to Russian marketDeputy Minister of Economy: 58% of Armenia`s agro-food products are  exported to Russian market
Armenia`s scores are the worst in the Energy Transition Index for the  last decade: LUYS FoundationArmenia`s scores are the worst in the Energy Transition Index for the  last decade: LUYS Foundation
Features of Armenian offshore: SRC assesses lossesFeatures of Armenian offshore: SRC assesses losses
Trend of shadow economy is reducing; Rustam Badasyan assuresTrend of shadow economy is reducing; Rustam Badasyan assures
Tax revenues on schedule in Armenia Tax revenues on schedule in Armenia 
Ball is in US court - Armen Grigoryan on NPP construction Ball is in US court - Armen Grigoryan on NPP construction 
The construction of the Pullman International Hotel complex in Armenia will cost 100 million US dollarsThe construction of the Pullman International Hotel complex in Armenia will cost 100 million US dollars
World Bank does not change Armenia`s status as upper-middle-income  countryWorld Bank does not change Armenia`s status as upper-middle-income  country
Armenian banks` delegation visits OVIO Data Processing CenterArmenian banks` delegation visits OVIO Data Processing Center
In-country tourism recorded 20% average annual growth since 2020 In-country tourism recorded 20% average annual growth since 2020 
Araratbank allocates $10 million in funding to women entrepreneursAraratbank allocates $10 million in funding to women entrepreneurs
State Revenue Committee reminds taxpayers of tax bill deadline State Revenue Committee reminds taxpayers of tax bill deadline 
Powers of Armenia`s Economic Competition Protection Commission to be  expanded Powers of Armenia`s Economic Competition Protection Commission to be  expanded 
Read more
Exchange rates
19.07.2024
RUB4.420.02
USD388.370.38
EUR422.70-1.49
GBP501.81-2.19
CAD283.15-0.51
JPY24.66-0.15
CNY53.43-0.01
CHF436.67-2.38