Time in Yerevan: 11:07:36,   29 January

Government debt to be lower than projected in yearend, says Finance Minister

Government debt to be lower than projected in yearend, says Finance Minister

HANKAVAN, DECEMBER 7, ARMENPRESS. The government debt in 2019 yearend in Armenia will be lower than it was projected during last year’s debates of the government budget, said Finance Minister Atom Janjughazyan at a year-end news conference.

“We will have a lower debt that the projected volume during the 2019 budget discussions because we have comparably lower performance indicators in terms of targeted projects carried out at the expense of loan resources. We will have a comparably low comparative indicator of debt-GDP. If in the 2019-2021 mid-term spending program we projected that we would gradually come down from the 50% threshold and in 2019 there will be a debt-GDP ratio exceeding 50%, now we believe that it will be more than 49% and lower than 50%,” he said.

He said the 2020 budget foresees approximately 48,2% debt-GDP ratio.

Janjughazyan said internationally Armenia is considered among countries having a low government debt.

Edited and translated by Stepan Kocharyan




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