ArmInfo. Based on the current situation, I do not exclude and do not see problems in connection with a possible increase in public debt. Armenia's Deputy Prime Minister Mher Grigoryan stated this at a press conference on April 9, answering a question from journalists about, does he agree with the opinion of the former Deputy Prime Minister on the need to increase public debt. <We need to think about this, but I believe that it is too early to voice some decisions, indicators and deadlines on this part>, he said.
In this context, Grigoryan referred to the development of processes throughout the world, which is why, according to him, takes some time to make decisions and clarify anti-crisis steps. <Of course, we think about it. There are certain scenarios. However, today I would not want to voice any specific figures>, he concluded.
To recall, according to preliminary data of the RA Ministry of Finance, in March 2020 the state debt grew by 6% per annum - up to $ 7.4 billion (3.5 trillion drams). In its structure, y-o-y growth of both external debt - by 4% to $ 5.7 billion (2.7 trillion drams) and internal - by 14.1% - to $ 1.6 billion (773.3 billion drams) was noted.
By way of comparison, to note, a year earlier - by March 2019, these indicators showed the following dynamics: external debt decreased by 0.6%, internal debt increased by 9.7%, which increased the total public debt of Armenia by 1.4% per annum.
It should be noted that according to the updated Fitch forecast, in Armenia the ratio of public debt to GDP will increase from 53.6% in 2019 to 59.2% in 2020, after which it will decrease to 56% in 2021. Fitch notes that the dominant share of the state debt of Armenia is nominated in foreign currency - 79%, which leads to the emergence of currency risk.
