As of March 31, Armenia’s public debt reached 5 trillion 318 billion drams, marking a 4.4% increase from the end of 2024. In dollar terms, the debt rose by 5.8%, Finance Minister Vahe Hovhannisyan announced during a press briefing.

He noted that the debt-to-GDP ratio declined by 0.1 percentage points in 2024. In dollar terms, the debt now stands at $13.581 billion. Hovhannisyan said that all borrowing was conducted within the limits set by the state budget and the government’s medium-term debt strategy.

Hovhannisyan highlighted a notable increase in domestic debt, stating: “We’ve reached a 50% level, which is quite a positive indicator. In countries similar to ours, domestic debt typically makes up 20-30%. We used to be in that range as well, but we’ve managed to increase it, which helps mitigate currency risks to some extent.”