Monday, February 19 2018 17:18
Naira Badalian

In January 2018 Armenia attracted a third of the planned annual volume of foreign borrowings

In January 2018 Armenia attracted a third of the planned annual volume of foreign borrowings

ArmInfo. During the first month of 2018, Armenia attracted a third of the planned annual volume of foreign borrowings, from $ 411 million, only in January the debt burden of the republic increased by $ 123.5 million.

From 2009 to 2014, Armenia steadily increased the national debt by an average of about $ 245 million: in 2009, as of December 31, the state debt was $ 3, 367.2 million, in 2010 - $ 3, 805.1 million (an increase of $ 437.9 million), in 2011 - $ 4,134.7 million (with growth of $ 329.6 million), in 2012 - $ 4, 372.1 million (an increase of $ 237.4 million) in 2013 - $ 4.588.5 million (an increase of $ 216.5 million), in 2014 - $ 4,441.5 million (an increase of 248.3 billion drams, and in dollar terms a decline of $ 147 million).

Already from 2015, the indicator began to grow "by leaps and bounds" - by the end of 2015 reached the level of $ 5077.7 million, while recording growth of $ 636.2 million. The trend was preserved in 2016 - $ 864.4 million, as a result of which the indicator reached $ 5,942.1 million. By the end of 2017, the aggregate state debt of Armenia increased to $ 6.774.6 million, instead of the $ 6.512 billion laid in the "Budget-2017". Thus, in a year, having increased the debt burden for $ 832.5 million Armenia for $ 262.6 million has accumulated more than planned.

According to the budget, by the end of 2018 the national debt is to be increased by an average of $ 400 million - up to $ 7.168 million. (483.06 for one US dollar). As stated in the foreign borrowing program for 2018, $ 411 million, $ 99 million or 48 billion drams will be attracted to implement budget assistance programs, and $ 312 million or 151 billion drams will be directed to targeted programs. On the eve of 2018, we can say that the Republic will not lag behind the schedule in terms of attracting external borrowings.

According to the World Bank, the share of Armenia's national debt in GDP will grow to 59.6% in 2018, from 58.9% in 2017, and the external debt to 48.4% from 47.9% in 2017. In 2019, the World Bank predicts a decline in the share of public debt in GDP to 59.3%, and external debt in GDP - up to 48%.

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