Armenia public debt closing in on $8 billion

Armenia public debt closing in on $8 billion

PanARMENIAN.Net - Armenia's public debt grew by $647.2 million in 2020 and amounted to $7,968.5 billion as of December 31, Armbanks.am reports citing data from the Finance Ministry of the country.

Within the total debt, the Armenian government accounts for more than $7.5 billion (an increase of $ 676.6 million), while the debt of the Central Bank has dropped by $29.4 million to $459.9 million.

Finance Minister Atom Janjughazyan said in November that the country's debt-to-GDP ratio would be 66.5% by the end of 2020 against 49.9% in 2019, and will reach 67% in 2021.

 Top stories
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.
The ruble was trading at a low of 74.9 to $1 on March 9 morning, after another wild start to the week for financial markets.
Pashinyan said that raising the efficiency of the fight against corruption will be one of the most important challenges.
Partner news