Minister of Finance: Neither default, nor sequester of budget  threatens Armenia

ArmInfo. Talks about the forgiveness of Armenia's external public debt by international creditors may carry reputational risks for the country. This opinion  was expressed by the Minister of Finance of Armenia Atom Janjugazyan  on June 26 during the Facebook-based press conference on the radio  "Azatutyun", commenting on the user's question "why would not the  external creditors forgive the $ 7 billion debt of the RA."

According to the minister's remarks, regardless of how effectively  Armenia managed the borrowed resources, initiating such  conversations, it is possible to seriously damage the international  image of the country. Meanwhile, according to Dzhandugazyan, Armenia  should make every effort to strengthen the positive image, which  recently, against the backdrop of the "velvet revolution", the  republic has formed in the eyes of international players.

In addition, as the head of the Ministry of Finance stressed, Armenia  continues to be among the countries with a low debt burden. The  financial department at the same time does not see any risks related  to the management of the public debt: Armenia recorded a 7.5% GDP  growth last year, this year it expects growth above the 4.5% fixed in  the budget, continue to increase. Thus, according to Atom  Janjughazyan, talking about a possible budget sequestration or  default, it's "talking in favor of the poor."