YEREVAN, SEPTEMBER 28, ARMENPRESS. Armenia’s finance minister Vardan Aramyan reassures that the country isn’t facing a threat of default.

“When calculating all relative indicators we presented that Armenia still remains a country having a low burden of debt”, the minister told a press briefing after the Cabinet meeting.

According to him, the total state debt, including the debt of the Central Bank in 2017 will be around 6 billion 700 million dollars.

“For a default we must first of all have problems with liquidity, meaning for the cash in our pockets to be insufficient for realizing our ongoing obligations. And for assessing our ongoing obligations we must see how much the average capacity of our debt is. In terms of the domestic debt it is more than 8 years, while our mid-term targets are such that we are able to keep that 8 year indicator in the upcoming 3-4 years. The indicator for the foreign debt is much bigger, 17-18 years. Therefore there is no danger of default”, he said.