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Armenia's foreign debt grew by 5% in Q3

Armenia's foreign debt grew by 5% in Q3

PanARMENIAN.Net - Armenia's foreign debt in the third quarter of 2017 has grown by 4,9% to top $5 billion against the $4,828 in the first quarter, data provided by the National Statistical Service reveal.

The country's external debt accounted for the 45.5% of the GDP at the end of 2016. It is still unknown how much the foreign debt will make up at the end of 2017.

The government debt of Armenia, meanwhile, stood at $5.9 billion to make up the 56.6% of the whole GDP last year.

According to the forecast of the finance ministry, the debt-to-GDP ratio will reach 58.8%. The foreign debt will thus total $5.4 billion, while the internal debt will stand at $1.269 billion.

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