How much is the state debt of Armenia and will new debt instruments be involved? The Deputy Minister of Finance elaborates

We have plans to take on new debt. This was stated by Vahe Hovhannisyan, the Deputy Minister of Finance of Armenia, in an interview with Armenpress.

The Deputy Minister also addressed the state debt, noting that the debt will decrease in monetary terms, with 70 percent of the debt being in foreign currency, while the Armenian dram has appreciated. “If we planned to have 4 trillion 740 billion drams in debt when outlining the 2022 budget, we expect to have around 4 trillion 627 billion drams in debt by the end of 2023,” Hovhannisyan stated.

He emphasized that this does not mean that new debt instruments will not be engaged. “Naturally, we will involve new debt instruments, as we have numerous projects, including infrastructure projects that are being implemented with external financing, that is, through loans. We are also carrying out budget support loan programs aimed at improving policies. And naturally, we have plans to take on new debt,” the Deputy Minister concluded.