Tuesday, January 14 2020 17:36
Karine Melikyan

Armenia`s gross external debt increased by 7.7% per annum by October  1, 2019 - up to $ 11.7 billion

Armenia`s gross external debt increased by 7.7% per annum by October  1, 2019 - up to $ 11.7 billion

ArmInfo. The gross external debt of Armenia increased by October 1, 2019 by 7.7% per annum or $ 829.8 million - up to $ 11.7 billion (against an increase of 9.5% a  year earlier). 

According to the Statistical Committee of the Republic of Armenia, in  the 3rd quarter of 2019 alone, gross external debt slowed down from  3.5% to 1.7% or $ 193.7 million (against 2.4% growth in the 3rd  quarter of 2018). In a three-year context, Armenia's gross external  debt grew by 26.3% or $ 2.4 billion.

At the same time, gross external assets grew by 9.8% year on year (to  $ 5.5 billion), increasing net external debt by 5.9% (to $ 6.2  billion). In the Q3 of 2019 alone, gross external assets accelerated  growth from 1.9% to 10.2%, which, with a meager increase in gross  external debt, reduced net external debt by 4.8%. In the structure of  Armenia's gross external debt, the largest share falls to state  bodies - 44.2% or $ 5.2 billion with a y-o-y growth of 4.3%, in Q3  alone - on 2%. In government debt, the dominant of long-term loans  decreased from 81.7% to 79.7%, with annual growth of 2%, with a  quarterly decline of 1.4%. The second place in terms of external debt  is occupied by banks - 25% or $ 2.9 billion, with annual growth of  20%, and in Q3 alone - by 3%. Long-term loans prevail in the external  debt of banks, the share of which decreased year-on-year from 41.6%  to 38% ($ 1.1 billion). Intercompany loans occupy the third place,  the share of which in gross external debt increased from 12.5% to 16%  ($ 1.9 billion), with annual growth in absolute value by 46.2%, and  in Q3 alone - by 1.4%. The fourth place is taken by the private  sector, whose share in gross external debt decreased from 13% to 9.3%  ($ 1.1 billion), with an annual decline of 23.4%, with growth for Q3  by 4%, and long-term loans continue to dominate - 83.6% or $ 0.9  billion (against 84.6% or $ 1.2 billion a year earlier). The share of  the Central Bank of the Republic of Armenia in gross external debt  decreased over the year from 6.5% to 5.5% ($ 637.8 million) with an  annual decline in absolute value by 10%, and in Q3 alone- by 2.4%,  and as before, dominate long-term loans - 81% or $ 516.6 million,  declining over the year by 11.4%, but in Q3 alone - by 2.5%.

It should be noted that in 2018 the gross external debt of Armenia  increased by 3.7%, the gross external assets decreased by 0.6%, as a  result of which the net external debt increased by 7.4%. In the  structure of Armenia's gross external debt, the largest share was  occupied by government bodies - 46.6%, and then followed by: banks -  23%; intercompany loans - 16.4%; private sector - 7.8%; CBA - 6.2%. 

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