Armenia's state debt service to peak in 2013-2014

PanARMENIAN.Net - Armenia's state debt will not exceed 50 percent of GDP in 2010, RA Minister of Finance Tigran Davtyan told a final press conference in Yerevan.



"We do not incur debts, which we could not service, and our current debts will not be inherited by our children," he assured.



However, according to the Minister, the national state debt will be difficult to service within the next several years, with peak in 2013-2014.



In 2010 Armenia will receive 100 million euros from the EU, 35 million euros out of which is a grant, while the remainder is provided at a preferential terms. Armenian government negotiates with Russia over USD 100-120 million loan for the development of diamond industry. It is expected that ALROSA will supply raw materials to Armenian diamond cutting enterprises, while the government will provide guarantees.