ARFD MP worried about Armenia debt; minister says more to comeJune 26, 2017 - 12:55 AMT PanARMENIAN.Net - Lawmaker from the Armenian Revolutionary Federation - Dashnaktsutyun (ARFD) Armenuhi Kyureghyan on Monday, June 26 expressed concern over Armenia’s growing government debt. Finance minister Vardan Aramyan said, in response, that Armenia will continue borrowing in the future. “If your income is not enough to cover your expenses, you have to borrow,” Aramyan explained. “If I am able to make the economic growth exceed the debt, I will need to borrow. The debt-to-GDP ratio must stabilize due to GDP growth,” Aramyan added, citing the Greek government-debt crisis as an example of an incorrect policy. The government debt amounted to $5.9 billion in 2016, including $4.3 billion in external debt. Related links: Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Russia clarifying reports on Baku’s alleged arms supply to Ukraine Russia says is carefully working to verify reports about alleged arms supplies from Azerbaijan to Ukraine Russia warns Armenia against “falling into West’s trap” Zakharova maintained, however, that anything that will benefit the people of Armenia can only be welcomed. CSTO: Armenia has not participated in secretariat’s work recently Recently Armenia has not participated in the work of the secretariat of the CSTO, Imangali Tasmagambetov said. Meeting with U.S., EU not against third parties, says Armenia The meeting scheduled for April 5 is dedicated to strengthening of the Armenia-EU-US cooperation, Yerevan added. |