Debt to reach over 5,9 trillion drams by yearend 2025, says finance minister

YEREVAN, OCTOBER 28, ARMENPRESS. The government debt will amount to 49,8% by yearend 2024 and will grow next year to 53,5%, according to finance minister Vahe Hovhannisyan.

“We project that in the end of 2024 we will have a state debt near 50%, approximately 49,8%. In the end of 2025, the state debt will reach 53,5%, nominally 5 trillion 914 billion drams. Meaning, 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%.