State debt should remain controllableJune 10, 2010 - 14:32 AMT PanARMENIAN.Net - Chairman of the RA NA Standing Committee on Financial-Credit, Budgetary and Economic Affairs Gagik Minasyan said that Armenia’s state debt totaled $3bln or 36% of GDP by the end of 2009 against $1.5bln or 13% by the end of 2008. “Naturally, this is a drastic growth in the country’s foreign debt index, however, it allowed us to implement the governmental anti-crisis program and gain a growth in GDP by the end of 2009,” said Minasyan. Besides, this index is an average debt loan, according to international standards, the Committee’s head noted. “In many European countries, the state debt index exceeds GDP volume,” he stressed. Minasyan believes that the state debt should remain controllable. In addition, he expressed opinion that the budget deficit will be decreasing during coming years, what will lead to drop in the foreign debt index. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Court in Azerbaijan extends former Karabakh leader’s arrest by 5 months The Binagadi District Court in Azerbaijan has granted the prosecutor’s petition to extend the arrest of Arkady Ghukasyan. Ucom General Director joins High-Tech Development Panel Discussion The discussion was titled "The Role of International Corporations and Investors as Catalysts for Development of High-Tech Ecosystem." U.S. still believes “peace is possible” between Armenia, Azerbaijan The United States continues to believe that peace is possible between Armenia and Azerbaijan, Vedant Patel says. Dozens detained as antigovernment protest continue in Armenia At least 63 people demanding Prime Minister Nikol Pashinyan’s resignation were detained on May 14 as they blocked streets in Yerevan. |