Economist: Armenian Eurobonds covering current expenses cannot be  called

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.