ArmInfo. The state debt of Armenia reached $ 6.3 billion (3.02 trillion drams) by October 1, 2017, slowing the annual growth rate from 16.7% to 12.5%, which was provoked by a more significant slowdown in the growth of domestic debt, from 42.9% to 20% rather than external debt - from 12.2% to 10.9%. As of October 1 this year. external debt amounted to $ 5.1 billion (2.4 trillion drams) or 81%, and domestic debt - $ 1.2 billion (593.3 billion drams) or 19%. According to the preliminary data of the RA Ministry of Finance, provided by the ArmInfo National Statistical Service, only in January-September of 2017 the state debt of Armenia grew by 6.8% due to the growth of external debt by 6.3% and the increase in internal debt by 9.1%. A year earlier, in January-September 2016, the growth rate of domestic debt also outstripped the growth of external debt, but much more significantly - 31.9% and 7%, respectively, which increased the total national debt by 9.8%.
In the structure of external debt, 87.9% or $ 4.5 billion fell to the government, and the remaining 12.1% or $ 611.3 million - to the Central Bank, against 89% and 11% a year earlier. Moreover, the government's external debt has slowed the annual growth rate from 13.9% to 9.8%, and the CBR's debt growth has sharply accelerated from 6.1% to 20.7%. Only in January-September of 2017, the external debt of the Central Bank grew by 21.1% more than the government - 4.7%, against 6.3% and 7.9%, respectively, against the almost similar moderate increase in January-September 2016 .
In the structure of the domestic state debt, state bonds dominate: in January-September of 2017, the share fell from 91% to 89.1% ($ 1.1 billion or 528.4 billion drams), with an annual growth of absolute value of 21.4%, and only in January-September this year. - by 4.8%. Then followed the Armenian Eurobonds - $ 126.6 million or 60.6 billion drams, the share of which increased in January-September 2017 from 8.4% to 10.2%, with an annual increase in the absolute value of 57.1%, and only in January-September - on 32.4%. The rest is covered by guarantees - 0.7% or $ 9 million with an annual growth of 28.6%, with a similar growth for January-September. A year earlier, as of October 1, 2016, the government bonds accounted for 91.3% of the state debt, 8% for Armenian Eurobonds, and 0.7% for guarantees.
The degree of coverage of foreign debt with gold and foreign exchange reserves declined in January- September 2017 from 45.9% to 41.3% due to a fall in reserves by 5% against the backdrop of the continuing ascent of foreign debt. By way of comparison, we note that in January-September 2016, the degree of coverage of external debt with gold and foreign exchange reserves decreased less significantly - from 41.1% to 39.7%, which was due to a more significant slowdown in the growth of reserves (from 9.1% in 9 months of 2015 to 2.6% in 9 months of 2016), rather than growth in external debt.
The specific debt load per capita reached $ 2.1 thousand by October 1, 2017, of which $ 1.7 thousand comes from external debt. The growth of this indicator is due to the continuing ascent of the general public debt, including external debt, in parallel with which the population is declining. So, according to the statistics on October 1, 2017 in Armenia, 2.980 million citizens live, compared with 3.270 million on the same date in 2011 (when the specific debt load per capita was $ 1.2 thousand, of which $ 1.1 thousand came from external debt). At that time, as of October 1, 2011, the degree of coverage of external debt with gold and foreign exchange reserves was 55.6%, against the backdrop of the slightly different rates of the nine-month growth in reserves and external debt, respectively 4.8% and 6.6% (with an annual increase of 5% , 5% and 8.9% respectively).
Recall that in 2016 the total public debt of Armenia rose by 15.7% to $ 5.9 billion, in particular, foreign debt - by 11.6% - to $ 4.8 billion, and domestic - by 49.7% - to $ 1.14 billion (against $ 761.5 million in 2015). In 2016, the degree of coverage of external debt with gold and foreign exchange reserves increased from 41.1% to 45.9% against the backdrop of an increase in external debt for this period by 11.6%, with an increase in reserves by 22.2%. Due to the growing national debt and high migration, the specific debt load per capita reached $ 2 thousand by January 1, 2017, of which over $ 1.6 thousand came from external debt. According to the statistical data for 2011-2016, the population of the Republic of Armenia decreased from 3.274 million to 2.987 million. As a result of 2016, the share of the national debt in Armenia's GDP was 56.6%, compared to 48.7% in 2015, and only in external debt the share in GDP increased from 41 , 4% in 2015 to 45.8% in 2016. Armenia's GDP growth slowed in 2016 to 0.2% from 3.2% in 2015. In January- September 2017, the annual growth rates of economic activity accelerated from 1.6% to 5.1%. According to the forecasts of the Central Bank and the Government of the Republic in 2017, it will be possible to ensure higher GDP growth rates than the planned 3.2% in the state budget program, and by 2015 it is forecasted real GDP growth of 5.5%.