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ARFD MP worried about Armenia debt; minister says more to come

ARFD MP worried about Armenia debt; minister says more to come

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.

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