ArmInfo.In 2020, 448.7 billion drams or about $ 942 million will be required to repay and service the government debt of Armenia (the estimated dollar exchange rate to the Armenian dram is 476.46). The head of the department for accounting and servicing of the Department of Public Debt Management of the Ministry of Finance of Armenia Artak Marutyan informed ArmInfo about this.
Of these 448.7 billion drams, 280.6 billion drams will be allocated to pay off the principal amount of the debt, and 168 billion drams to pay interest rates. In particular, 47% will fall on the share of treasury bonds of the Republic of Armenia, 17% - on Eurobonds and 37% - on external loans. 123.2 billion drams ($ 159 million) will be allocated for redemption and servicing of government bonds, of which 26 billion drams will be used to buy these securities. 164.2 billion drams ($ 344.66 million) will be allocated for repayment and servicing of external loans.
Meanwhile, the state debt of Armenia in 2020 will amount to $ 7.630 billion or 3.636 trillion drams (51.2% of GDP), against 3.492 trillion drams or $ 7.330 billion expected by the end of 2019 (53.2% of GDP). Meanwhile, in the law "On the State Budget of the Republic of Armenia for 2019", the government debt indicator was projected at $ 7.423 billion (3.612 trillion drams, the rate of the Armenian dram to the dollar - 486.55 drams) or 53.5% of GDP. At the end of 2018, the indicator was at the level of $ 6.9 billion. At the same time, government debt, compared to 2019, having decreased by 1.4 percentage points, will amount to $ 7.177 billion or 3.419 trillion drams (48.2% of GDP). By the end of this year, the indicator, according to the law "On the state budget for 2020", will reach 3.257 trillion drams or $ 6.836 billion. "By the end of 2020, the average interest rate of government debt will amount to 5.2%, and total service costs will be similar to 2019 - at 2.4% of GDP," Artak Marutyan informed.