Government debt will reach 49,8% by yearend and will grow next year to 53,5%, according to Armenia’s Finance Minister Vahe Hovhannisyan.

“We project that at the end of 2024 we will have a state debt near 50%, approximately 49,8%,” the official said Monday, October 28.

“By the end of 2025, government debt will reach 53,5%, nominally 5 trillion 914 billion drams, which means it will grow from 5 trillion 37 billion to 5 trillion 914 billion drams,” Hovhannisyan said, conditioning it with the high level of the 2025 budget’s deficit. The budget expenditures for servicing the debt will increase from 11,2% to 11,3%, and against the GDP from 3,4% to 3,6%., Armenpress cited him as saying