State Debt Increased by $804 Million in Four Months: Suren Parsyan

As of April 30, 2021, Armenia's state debt amounts to $8.7 billion, an increase of $804 million or 10% compared to the beginning of the year, writes Suren Parsyan, head of the Economic Research Office of the Armenian Revolutionary Federation's Bureau.

“It is evident that this state debt poses a burden on our country, as these funds have primarily been allocated to finance current expenses (salaries, bonuses, social spending, etc.). Undoubtedly, if the current authorities are re-elected, they will continue to increase the state debt without considering who, when, and how it will be repaid in the future. This government is taking on debt on one hand while returning money to large businesses on the other, meaning they are supporting the wealthy at the expense of society, while those funds are simply taken out of Armenia by these businesses. In this environment of financial impunity, the debt per citizen of the Republic of Armenia has become $2,960,” he wrote.