Friday, December 1 2017 12:55
Karine 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.

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Government Bonds

Issue volume

10 billion

Volume of T-bills for placement

200 million

Volume of submitted competitive applications

200 million

Volume of satisfied bids

200 million

Yield at cut-off price

 5.8314%

Maximum yield

 5.8314%

Мinimum yield

 5.8314%

Weighted average yield

 5.8314%

Number of participants

2

The maturity date of T-bills

03.02.2020

ArmEx

 

СПРОС (Покупка)

USD

Средневзв. Цена

482,00

ПРЕДЛОЖЕНИЕ (Продажа)

  USD

Средневзв. Цена

-

СДЕЛКИ

USD

Цена откр.

482,00

Цена закр.

482,00

Мин. Цена

482,00

Макс. Цена

482,00

Ср/взв. Цена

482,00

-0.16

Кол-во сделок

1

Объем (инвал.)

200 000

0бъем (драм)

96 400 000