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.