Wednesday, October 21 2020 17:20
Karine Melikyan

State debt of Armenia registered decline starting from September 2020

State debt of Armenia registered decline starting from September 2020

ArmInfo.  The national debt of  Armenia in September 2020 decreased by 1.4% after the stagnant 0.3%  growth in August, which is due to the reversal of the dynamics of  both external debt from 0.1% growth to 1.3% decline, and internal  debt from 1% growth to 1.7% decline. As a result, the state debt of  Armenia by October 2020 amounted to $ 7.9 billion (3.8 trillion  drams), in particular, the external debt - $ 5.98 billion (2.9  trillion drams), and the internal debt - $ 1.9 billion (915.7 billion  drams). This is evidenced by the data of the RA Ministry of Finance.

In January-September 2020, the national debt of Armenia increased by  7.3% (against growth by 1.8% in 9 months of 2019). Moreover, a modest  nine-month increase in external debt by 3.3% was accompanied by a  jump in domestic debt by 22.2%, while a year earlier the upward rate  was much more modest - a stagnant 0.2% increase in external debt was  accompanied by an increase in domestic debt by 8, 5%.

In Q3 of 2020, the growth of the state debt of Armenia slowed down to  1.8% from 5.9% in the Q2, due to the reversal of the dynamics of  external debt from 4.6% growth to 0.04% decline, while the growth of  domestic debt from 10.9% to 8%.

In y-o-y terms (in September 2020 to September 2019), the national  debt of Armenia accelerated growth from 4.6% to 11.3%. This was  triggered by the acceleration in the growth of both external debt  from 2.4% to 7.8% and domestic debt from 13.7% to 24.8%.

To note, the World Bank in the updated October forecast worsened  expectations for the ratio of Armenia's public debt to GDP for 2020  towards growth to 63.8% (from the actual 53.5% in 2019), against the  previously expected 57.2%. And for 2021, the World Bank predicts a  slight decrease in this indicator - to 63.6% of GDP. In the same  forecast, the WB worsened expectations on the dynamics of Armenia's  GDP - to a 6.3% decline in 2020 (against the previously expected 2.8%  decline and an actual 7.6% growth in 2019), while in 2021 predicting  the growth of GDP by 4.6%.

As a reminder, by January 1, 2020, the total national debt of Armenia  was 3.5 trillion drams or $ 7.3 billion, in the structure of which  the external debt -2.8 trillion drams or $ 5.8 billion, and the  internal debt -737.2 billion drams or $ 1.5 billion. The national  debt of Armenia increased by 5,8% in 2019, due to the growth of  external debt by 4.6% with an increase in domestic debt by 10.7%.


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10 billion

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200 million

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Yield at cut-off price

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