ArmInfo. The Armenian authorities expect that by the end of 2023, the share of public debt in the country's GDP will be 47% instead of the previously predicted figure of 49%, Armenia's Deputy Minister of Finance of Armenia Eduard Hakobyan stated in Parliament.
According to him, these results contributed to improving the international image of the state. International rating agencies, taking into account the reduction in the size of public debt, have significantly improved the country's rating indicators. The RA Government, continued the Deputy Minister, plans to maintain the trend towards reducing the size of the public debt in the coming years, and this means abandoning the need to attract excess credit funds. Hakobyan noted that not long ago one of the major international organizations highly appreciated the level of transparency in the execution of the state budget of Armenia.
According to the recently approved RA Law "On the State Budget for 2024", next year Armenia's public debt will reach AMD 5,314bln (50.5% of GDP), instead of AMD 4,659bln expected by the end of 2023 (49. 3% of GDP), and AMD 4,659bln, actual for 2022 (49.2% of GDP). The government's debt will amount to AMD 5,082.9bln (48.3% of GDP) or $11.892bln, against AMD 4, 446.1bln (47% of GDP) or $10.910bln expected at the end of 2023 and AMD 3,969.7bln or $10.086bln - for 2022 (46.7% of GDP). To repay and service the government's debt, AMD 805.2bln will be required, of which AMD 483.0bln will be debt repayment, and AMD 322.2bln will be interest payments.
