Armenia’s state debt is manageable, says Vice PM

YEREVAN, NOVEMBER 16, ARMENPRESS. Vice Prime Minister of Armenia Vache Gabrielyan assures that Armenia’s state debt is manageable, reports Armenpress.

During the discussion of the 2018 state budget draft in the Parliament, the Vice PM said the most part of the state debt is involved from the donor organizations at low interest rates. “This debt is manageable since our figures are clearly low compared to all international benchmarks and are manageable”, the Vice PM said.

He added that the evidence of the debt management is that the 2018 state debt-GDP ratio should decrease by one percentage point. “This speaks about the stabilization of the debt. This doesn’t mean that we refuse any program important for us. We do this moderately by combining it to the overall stabilization”, Vache Gabrielyan said.

The Vice PM stated that the government has increased the domestic programs through the funds provided by international donor organizations at low interest rates, by creating opportunities through boosting the domestic investments which will contribute to the economic growth and improvement of living standards of the citizens.