Government plans to reduce state debt against GDP up to 50%

YEREVAN, OCTOBER 31, ARMENPRESS. In 2023 the government of Armenia plans to ensure significant improvement in state debt towards the GDP, Minister of Finance Tigran Khachatryan said during the joint session of the parliamentary standing committees dedicated to the debate of the 2023 state budget draft.

“The more the debt and the debt servicing are in a reliable environment, the more all our tasks in the medium term could be fulfilled with the volumes that are planned with a greater guarantee. We know that there are many uncertainties, and the environment of this year is the evidence of it. We must take into account all potential developments in order to manage the debt in a way so that they do not create risks for the government’s actions in the medium term”, the minister said.

He reminded that in 2021 the state debt against GDP was at a very high level, comprising 60.3%.

“During the period of the government’s action plan, we must do so that this figure is not higher than 50% of GDP”, he added.