Friday, December 1 2017 12:55
Karina Melikyan

The state debt of Armenia frozen at the level of $ 6.3 billion, and the foreign debt - at $ 5.1 billion

The state debt of Armenia  frozen at the level of $ 6.3 billion, and  the foreign debt - at $ 5.1 billion

ArmInfo. The state debt of  Armenia by November 1, 2017 amounted to $ 6.3 billion (3.04 trillion  drams), slowing the annual rate of growth from 25.6% to 12.5%, which  was provoked by a more significant slowdown in domestic debt growth,  from 45% to 9.1% rather than external debt - from 21.8% to 13.3%.  This is taking place against the backdrop of a recovery in the rate  of economic growth - 7.1% in January-October 2017 to the same period  in 2016. According to the preliminary data of the RA Ministry of  Finance, provided by the ArmInfo National Statistical Service, as of  November 1 this year. the external debt amounted to $ 5.1 billion  (2.4 trillion drams) or 81%, and domestic debt - $ 1.2 billion (599.9  billion drams) or 19%. 

Only in January-October 2017, Armenia's national debt grew by 6.8%  due to an increase in external debt by 6.3% and an increase in  domestic debt by 9.1%. A year earlier, in January-October 2016, the  growth rate of domestic debt also outstripped the growth of external  debt, but much more significantly - 39.6% and 5.3%, respectively,  which increased the total national debt by 10.4%.

In the structure of external debt 86.3% or $ 4.4 billion fell to the  government, and the remaining 13.7% or $ 607.7 million - to the  Central Bank, against 89% and 11% a year earlier. Moreover, the  external debt of the government slowed the annual growth rates from  23.3% to 8.9%, while the increase in the CBR's debt, on the contrary,  accelerated from 10.9% to 21.8%. Only in January-October of 2017, the  external debt of the Central Bank grew by 20.4% more than government  - by 2.3%, against almost the same moderate increase in  January-October 2016 - 4.7% and 5.3% respectively.

In the structure of the domestic state debt, government bonds  dominate - in January-October 2017, the share fell from 91% to 88.9%  ($ 1.1 billion or 533.3 billion drams), with an annual increase in  absolute value of 15.5%, and only in January-October this year. - by  6.6%. Then follow Armenian Eurobonds - $ 129.1 million or 62.3  billion drams, the share of which increased in January-October 2017  from 8.4% to 10.4%, with an annual increase in the absolute value of  55%, and only in January-October - by 34.6% . The rest is covered by  guarantees - 0.7% or $ 9 million with an annual growth of 28.6%, with  a similar growth for January-October. A year earlier, as of November  1, 2016, the share of state bonds in the internal state debt was  91.4%, Armenian Eurobonds - 7.9%, and guarantees - 0.7%.  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- October 2017, the annual growth rate  of economic activity accelerated from 0.4% to 7.1%. According to the  updated forecasts of the Central Bank, in 2017 it will be possible to  ensure GDP growth by 4.4-4.9%, and by 2018 it is forecasted real GDP  growth of 5.5%. The state budget program for 2017 laid the GDP growth  by 3.2%, but the government is focused on ensuring a 5% growth.

POST A COMMENT
Input digits     


News
Russian government presents results of 23rd meeting of  Armenian-Russian intergovernmental commissionRussian government presents results of 23rd meeting of  Armenian-Russian intergovernmental commission
USD transactions down RUB ones up in in Armenia`s interbank foreign  exchange market Dec 16 to 20USD transactions down RUB ones up in in Armenia`s interbank foreign  exchange market Dec 16 to 20
Idram Junior Donated Books to SchoolsIdram Junior Donated Books to Schools
"Gray deals" involving gold and diamonds seen in private transfers
Overchuk: Trade turnover between Russia and Armenia reached $10.2  billion in the first 10 months of 2024Overchuk: Trade turnover between Russia and Armenia reached $10.2  billion in the first 10 months of 2024
Armenian Deputy Prime Minister: Agricultural trade turnover between  Armenia and Russia increased by 7%Armenian Deputy Prime Minister: Agricultural trade turnover between  Armenia and Russia increased by 7%
Team Telecom Armenia`s Sustainable Development Bonds to be listed at  Armenia Stock ExchangeTeam Telecom Armenia`s Sustainable Development Bonds to be listed at  Armenia Stock Exchange
 EBRD invests $13.5 million  in Team Telecom Armenia`s $75 million  bond issuance  EBRD invests $13.5 million  in Team Telecom Armenia`s $75 million  bond issuance 
Are all funds protected in Russian banks?Are all funds protected in Russian banks?
Global digital cooperation gaining currency in interconnected world -  Armenian NA vice-speaker Global digital cooperation gaining currency in interconnected world -  Armenian NA vice-speaker 
Armenia`s economy minister, C-Quadrat Ampega reps discuss development  of Armenia`s capital market Armenia`s economy minister, C-Quadrat Ampega reps discuss development  of Armenia`s capital market 
RA Embassy in USA hosts special fireside chat on USAID`s lasting  impact in strengthening Armenia`s economic resilience and democratic  governanceRA Embassy in USA hosts special fireside chat on USAID`s lasting  impact in strengthening Armenia`s economic resilience and democratic  governance
Armenia committed to constructive cooperation within BSEC to advance  peace and stability in Black Sea Region and beyond - Armenian FM Armenia committed to constructive cooperation within BSEC to advance  peace and stability in Black Sea Region and beyond - Armenian FM 
Big Christmas Market with Idram, IDBank and idplusBig Christmas Market with Idram, IDBank and idplus
Armenia implements 10 investment projects in Eurasian region - EDBArmenia implements 10 investment projects in Eurasian region - EDB
Armenian government plans to hold IPO for its share in  Zangezur  Copper and Molybdenum CombineArmenian government plans to hold IPO for its share in  Zangezur  Copper and Molybdenum Combine
Armenia, Japan to sign convention abolishing double taxationArmenia, Japan to sign convention abolishing double taxation
EFSD to issue $2mln grant to Armenia to improve financing reporting  quality of government agencies EFSD to issue $2mln grant to Armenia to improve financing reporting  quality of government agencies 
Armenia, Hungary to sign economic cooperation agreementArmenia, Hungary to sign economic cooperation agreement
ZCMC paid AMD 33.249bln to Armenia`s state budgetZCMC paid AMD 33.249bln to Armenia`s state budget
Interregional cooperation high on agenda of Armenian-Russian  intergovernmental commissionInterregional cooperation high on agenda of Armenian-Russian  intergovernmental commission
Deputy Minister of High-Tech Industry, ITU Regional Director discuss  future cooperationDeputy Minister of High-Tech Industry, ITU Regional Director discuss  future cooperation
IMF Board completed the 4th review under the SBA with Armenia,  providing the country with access to SDR $24.12 millionIMF Board completed the 4th review under the SBA with Armenia,  providing the country with access to SDR $24.12 million
Armenia, Iran discuss tourism cooperation prospects Armenia, Iran discuss tourism cooperation prospects 
Armenia facing serious demographic challenge - Tigran JrbashyanArmenia facing serious demographic challenge - Tigran Jrbashyan
Lars open for cars Lars open for cars 
The Best Gifts for New Year for Your Loved OnesThe Best Gifts for New Year for Your Loved Ones
Conflict of interests between West and Russian to harm Armenian  nuclear energy - opinion Conflict of interests between West and Russian to harm Armenian  nuclear energy - opinion 
Laws designed to develop Armenia`s technological sector - minister Laws designed to develop Armenia`s technological sector - minister 
Development of nuclear diplomacy for Armenia is a strategic task -  expert Development of nuclear diplomacy for Armenia is a strategic task -  expert 
Converse Bank included in the list of Confirming banks of the EBRD  TFPConverse Bank included in the list of Confirming banks of the EBRD  TFP
Armenian Stock Exchange conducts first-ever government bond switch  actionArmenian Stock Exchange conducts first-ever government bond switch  action
IDBank, Idram, and idplus at the Big Christmas MarketIDBank, Idram, and idplus at the Big Christmas Market
Armenian-Russian Intergovernmental Commission meeting to take place  in MoscowArmenian-Russian Intergovernmental Commission meeting to take place  in Moscow
Converse Bank Deputy CEO and CFO, Grant Akopian, Elected to BACEE BoardConverse Bank Deputy CEO and CFO, Grant Akopian, Elected to BACEE Board
IFC anchors Armenia`s first sustainability-linked bondsIFC anchors Armenia`s first sustainability-linked bonds
Armenia`s Minister of Economy calls on Greek businesses to make use  of the benefits offered by the countryArmenia`s Minister of Economy calls on Greek businesses to make use  of the benefits offered by the country
Andrew Turner seeking ways to enhance trade relations between Canada  and ArmeniaAndrew Turner seeking ways to enhance trade relations between Canada  and Armenia
Greece interested in stregthening cooperation with Armenia -  Konstantinos Fragkogiannis Greece interested in stregthening cooperation with Armenia -  Konstantinos Fragkogiannis 
Russia leader in Belarussia, Armenia trade Russia leader in Belarussia, Armenia trade 
Armenian, Georgian railroaders coordinate plans for 2025Armenian, Georgian railroaders coordinate plans for 2025
Converse Bank has been included in the list of Confirming Banks of the EBRD TFPConverse Bank has been included in the list of Confirming Banks of the EBRD TFP
Yerevan   to host Armenian-Greek Intergovernmental Commission meeting Yerevan   to host Armenian-Greek Intergovernmental Commission meeting 
Expert: SMR technologies are still futuristicExpert: SMR technologies are still futuristic
RA NA Member: Thanks to EAEU, Armenia experienced significant GDP  growthRA NA Member: Thanks to EAEU, Armenia experienced significant GDP  growth
Armenia, Iran discuss potential for launching joint jewelry  productionArmenia, Iran discuss potential for launching joint jewelry  production
Lifting embargo by Ankara, Baku could mean loss of Armenian economy,  statehood - economist Lifting embargo by Ankara, Baku could mean loss of Armenian economy,  statehood - economist 
Armenia`s economy minister presents assistance programmes for  slaughterhouses Armenia`s economy minister presents assistance programmes for  slaughterhouses 
Armenia`s premier on objective of turnover tax revision Armenia`s premier on objective of turnover tax revision 
Slowly but steadily we are making progress: Health Minister  Slowly but steadily we are making progress: Health Minister  
Lars open for light vehiclesLars open for light vehicles
Armenian interbank foreign exchange  market increased significantly,  while ruble transactions decreasedArmenian interbank foreign exchange  market increased significantly,  while ruble transactions decreased
Acba Bank and IFC to allocate $50 million for MSME  development in  ArmeniaAcba Bank and IFC to allocate $50 million for MSME  development in  Armenia
Armenian authorities approved STARLINK license Armenian authorities approved STARLINK license 
Pashinyan: EAEU ensures economic development dynamics of its member  countriesPashinyan: EAEU ensures economic development dynamics of its member  countries
EBRD and AraratBank Join Forces to Promote Green Economy and Competitiveness in ArmeniaEBRD and AraratBank Join Forces to Promote Green Economy and Competitiveness in Armenia
RA Ministry of Economy, World Bank outline next steps for TRIPRA Ministry of Economy, World Bank outline next steps for TRIP
Loss ratio under MPTL insurance contracts showing continued upward  trend in Armenian insurance marketLoss ratio under MPTL insurance contracts showing continued upward  trend in Armenian insurance market
Armenia, China discuss new areas of collaboration in high- tech  sectorArmenia, China discuss new areas of collaboration in high- tech  sector
"Upper Lars" closed for trucks - Attache
Read more
Exchange rates
20.12.2024
RUB3.850.02
USD395.050.14
EUR410.46-0.52
GBP494.09-5.04
CAD274.660.23
JPY25.200.04
CNY54.130.01
CHF441.540.69