Debt estimated at 48,4% of GDP

YEREVAN, JANUARY 31, ARMENPRESS. Armenia’s state debt as of 2023 is estimated to comprise around 48,4% of the GDP, according to preliminary data, finance minister Vahe Hovhannisyan has said.

“In 2023, Armenia’s economic potential increased,” he said at a press conference. “And the state debt, according to preliminary data, will be around 48,4%, increasing a bit compared to the 2022 level. Tax revenues grew progressively. And as a result of 2023 we have a 24,1% tax revenue-GDP indicator,” Hovhannisyan said.

GDP estimates are still preliminary.

Citing the growing share of investments by non-residents, the minister said that Armenia is becoming attractive for international institutional investors.