Monday, October 23 2017 18:09
Naira Badalian

The state debt of Armenia for 2017 will increase by $ 800 million

The state debt of Armenia for 2017 will increase by $ 800 million

ArmInfo. By the end of 2017, the state debt of Armenia will approach the $ 6.7 billion mark. Thus, over the year Armenia will increase the debt burden by $ 800 million, Minister of Finance Vardan Aramyan told ArmInfo, during a seminar on "Management of public debt" on October 22 in the Armenian Hanqavan.

According to the data of the Ministry of Finance, as of December 31, 2016, the state debt of Armenia was 2.875.6 billion AMD or $ 5.942.1 million (56.6% of GDP compared to 48.7% in 2015). Over the past year, the republic has increased its debt portfolio by 419.3 billion AMD or $ 864.4 million, out of which 13.8 billion AMD or $ 28.3 million accounted for by the Central Bank.

In January-September of 2017, the level of the country's national debt reached the level of 3 017.8 billion AMD or $ 6.308 billion, of which the government debt amounted to 2 725.3 billion AMD or $ 5,696.6 billion and the Central Bank's debt - 292.5 million AMD or $ 611.3 million ($ 1 = 478.41). By the end of 2017, Armenia's total debt will reach $ 6.7 billion, of which $ 6.2 billion is the government's debt.

Following the results of 2018, also with the aim of financing the state budget deficit of 156.9 billion AMD, the increase in the volume of state debt will be continued - 79.8 billion AMD or $ 166 million will be attracted from external borrowings. At the same time, it is predicted that next year, compared with the past, the level of the national debt will grow at a slower pace. As a result, the ratio of public debt to GDP in 2018 will be reduced by one percentage point. According to forecasts, by the end of next year the aggregate state debt will be about 60% of GDP or over $ 7 billion, including government debt of 3.163 billion AMD or $ 6,611 million (54.1% of GDP) with an increase of 181 billion AMD or $ 378 million service of state debt (interest rate) next year will require 140.5 billion AMD, instead of 120.3 billion in 2017 and 98.3 billion in 2015.

Nevertheless, Vardan Aramyan urged not to worry much. At least, as long as Armenia does not have problems with liquidity and solvency. And since, as the minister noted, the debt structure has also been chosen very successfully - the average life expectancy of external obligations is 17-18 years, then it is not worth worrying ahead of time.

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