Armenia debt-to-GDP ratio to drop 1% in 2018, minister says

Armenia debt-to-GDP ratio to drop 1% in 2018, minister says

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.

 Top stories
Vahan Kerobyan said Armenia will most probably introduce a ban on the sale of Turkish products as well.
According to Vahan Kerobyan, a sharp decline in the travel industry was recorded last year, but now the situation has changed
Mher Grigoryan added that the government will ensure that the borrowed funds are spent efficiently.
Wizz Air Abu Dhabi will be regularly flying from the Armenian capital of Yerevan to Abu Dhabi, UAE.
Partner news