ArmInfo. Even if we overlook the high interest rates on the 5th tranche of Armenian Eurobonds, their placement could only be deemed if they were used to improve and modernize the economic structure, rather than to cover the budget deficit, as stated by Vardan Bostanjyan, Doctor of Economics and Professor at Yerevan State University, in an interview with ArmInfo.
and with this government, - the economist noted with humor. Perhaps, in a certain sense, there is some truth in this. , the economist clarifies. And, since indicators have nothing to do with the Armenian reality, you can't rely on them, the government once again had to resort to attracting new debt to cover its current expenses. Meanwhile, by the end of 2024, Armenia's total public debt in dollar terms has already increased to approximately $ 12.8 billion (from $ 11 billion 845.4 million by the end of 2023). Compared to 2018, the RA public debt has almost doubled - by May 2018, when Prime Minister Nikol Pashinyan came to power, this figure was $6.8 billion. At the same time, over the 28-year history (from the moment Armenia gained independence until the end of 2017), the RA had attracted loans in the amount of about $6.774 billion.
, Bostanjyan noted. Thus, approximately 23-25% of all budget expenditures are allocated from the state budget for public expenses, that is, the costs of the state administration apparatus. Meanwhile, in the post-Soviet period, this expense item never exceeded 7%, the economist points out. According to him, . if it serves the purposes of developing infrastructure and the real sector: agriculture, opening new industries, building a new nuclear power plant. But if a country incurs debt to cover current social payments, maintain the state apparatus and the like, without creating additional value, then talking about the of the placement is, at the very least, not serious>, Vardan Bostanjyan concluded.
