  Armenia’s state debt to amount to USD 3.7bln in 2011December 28, 2010 - 16:19 AMT PanARMENIAN.Net - Chairman of the Armenian parliamentary standing committee on financial, credit and budgetary affairs Gagik Minasyan said that though Armenia doubled its state debt in 2009, bringing it to USD 3bln, it is ranked among the countries with medium debt load. Armenia’s state debt will make USD 3.3bln in 2010 and will amount to USD 3.7bln in 2011, Minasyan told a press conference on December 28, summarizing the results of 2010. “The ratio of state debt to GDP will approach 47% in Armenia.” Minasyan said he does not see problems with the state debt servicing. According to him, during the crisis the RA government intentionally increased the state debt to refrain from reducing expenditures and to implement social programs. “If these funds were not attracted, we would not have recorded economic growth,” Minasyan said. According to updated statistical data, 2.6% growth in Armenia’s GDP was recorded in January-November 2010 compared to the same period in 2009.   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 |  Latest news U.S. warns Georgia not to side with Moscow against the west  Georgia has been warned by the U.S. not to become an adversary of the west by falling back in line with Moscow.Power of One Dram sums up two-year program with Teach for Armenia Idram Junior also joined the companies during the visit, bringing with it a fascinating intellectual game for childrenMoscow slams EU mission in Armenia for “provocative activity” The EU mission is doing more and more against Armenia’s neighbors Russia, Azerbaijan and Iran, Mikhail Galuzin said.Yerevan Mayor to travel to Paris on May 15-19 The official delegation headed by Yerevan Mayor Tigran Avinyan will travel to Paris from May 15 to 19. |
