Armenia's National Debt Rises by Nearly 10 Percent

According to 'Hraparak', as of August 31, 2020, Armenia's national debt amounted to 3.881.98 trillion Armenian drams, which reflects a 10.49% increase compared to December 31, 2019, and rises by 16.93% and 18.91% relative to August 31 in 2019 and 2018, respectively.

The government’s debt stands at 3.645.7 trillion drams, a rise of 11.19% from December 31, 2019, and increases of 18.55% and 22.15% in comparison to August 31 of 2019 and 2018.

It is noteworthy that in recent years prior to 2018, Armenia's national debt grew rapidly. The growth rate significantly declined in 2018, but in 2019, the debt once again increased substantially. The most significant transaction related to the national debt in 2019 was the issuance of eurobonds worth $500 million. In September, the government decided to issue $500 million in eurobonds (foreign currency bonds) to repay debts scheduled for 2020.

Moreover, the national debt in dollar terms reached $7.967.29 million, which is an 8.784% increase compared to December 31, 2019, and rises by 14.26% and 17.82% against August 31 in 2019 and 2018, respectively. The government’s debt in dollar terms totals $7.482.36 million, reflecting a 9.47% increase from December 31, 2019, and rises of 15.84% and 21.03% when compared to August 31 of 2019 and 2018, respectively.