Armenian public debt to reach $ 7.6 billion or 51.2% of GDP

ArmInfo. According to the results of 2020, the state debt of Armenia will amount to $ 7.6  billion or 51.2% of GDP (the estimated exchange rate of the Armenian  dram to the dollar is 476.4 AMD). This is stated in the law "On the  State Budget of the Republic of Armenia for 2020".

Thus, despite the state debt indicator of $ 7.423 billion (3.612  trillion drams, the rate of the Armenian dram to the dollar - 486.55  AMD) or 53.5% of GDP, set in the law "On the State Budget of the  Republic of 2019", the indicator by 31 December of this year is  expected to reach $ 7.3 billion, or 53.2% of GDP. At the end of 2018,  the indicator was at the level of $ 6.9 billion.

At the same time, by the end of 2019, government debt will amount to  $ 6.8 billion (3.3 trillion drams) or 49.6% of GDP, against the  actual $ 6.3 billion (3.1 trillion drams) or 51.3% of GDP in 2018. At  the end of 2020, the figure, having decreased by 1.4 percentage  points, will amount to $ 7.1 billion.

According to the forecasts of the Ministry of Finance, in 2020, 448.7  billion drams (about $ 942 million) will be required to repay and  service the government debt of Armenia, of which 280.6 billion drams  will be allocated to pay off the principal amount of the debt, and  168 billion drams to pay interest rates. Until 2054, the most peak in  terms of servicing the public debt, formed by December 31, 2021, will  be the 2025th and 2029. - at about $ 900 million.

According to the results of 2020, according to the source, the World  Bank (WB), represented by the International Development Association  (IDA) and another member of the WB group - the International Bank for  Reconstruction and Development (IBRD), remain the largest external  creditors of Armenia,  with the share of 40.4% of external loans. The  list of major creditors also includes the Asian Development Bank  (ADB) with 18.7%, the Eurasian Development Bank (EDB) - 7.3% and the  European Investment Bank with 3.5%.