Armenia provided unprecedented high financial support to Nagorno Karabakh in 2022, says finance minister

YEREVAN, MAY 29, ARMENPRESS. Armenia provided a total of 176 billion drams in loans to Nagorno Karabakh in 2022, Finance Minister Vahe Hovhannisyan told lawmakers at a joint committee session for preliminary debates of the 2022 government budget report.

He said the figure was higher than planned and is an unprecedented volume of support.

The 2022 budget was executed with a 179,5 billion dram deficit, instead of the projected 22,9 billion.

Speaking about the deficit, Hovhannisyan said that the bond issuance plan was conducted in full at 252 billion drams. 165 billion drams in loans were received from international organizations.

“We’ve carried out approximately 100 billion dram in repayment. And the loan given to Artsakh comprised 176 billion drams, which was more than planned, such volume of support was never given to Nagorno Karabakh. As a result we have state debt, which stood at 4 trillion 186 billion drams as of December 31, in dollars it stands at 10 billion 637 million dollars,” Hovhannisyan said.