Armenia's National Debt Reaches 8 Billion Dollars

Armenia's national debt has reached 8 billion dollars: as of December 31, 2020, it amounts to 7,968.5 million US dollars. Of this, approximately 7.5 billion dollars is the Government's debt, while around 0.5 billion dollars belongs to the Central Bank.

The government has increased the state debt by about 700 million US dollars in the year 2020 alone. During its 2.8 years in office, it has raised the country's debt by approximately 1.2 billion US dollars.

If this debt had been used to build infrastructure for the country, there would be much less to discuss; however, in this case, the accumulated debt will not contribute to the country's development.

The chart illustrated shows the Government's debt. The chart is my own, while the data source is the Ministry of Finance of the Republic of Armenia. For more details, visit the Ministry of Finance website.

Hovhannes Avetisyan