January 9, 2018 - 17:26 AMT
PanARMENIAN.Net - Armenia’s debt-to-GDP ratio will drop by 1% in 2018, finance minister Vardan Aramyan said at a meeting with president Serzh Sargsyan on Tuesday, January 9.
According to him, the country implemented fiscal consolidation in 2017 to slow down the growth of the debt-to-GDP ratio, ultimately managing to twice decelerate the rate of growth.
According to the National Statistical Service, Armenia’s government debt stood at AMD 3.1 trillion (apx. $6,4 billion, including $5,1 billion of external debt) as of November 30, 2017.
Armenia had a debt-to-GDP ratio of 58.8% in 2017, up by 2.2% in the previous year.