Armenia's Public Debt Smoothly Approaches $12 Billion Threshold: Hetq

As of the end of February 2024, Armenia's public debt reached $11.943 billion. This is an increase of $97.5 million or 0.8% compared to the beginning of the year, according to data from the Ministry of Finance. The information is reported by Hetq.

Specifically, the external public debt amounted to $6.441 billion by the end of February, decreasing by $60 million or 0.9% over the two-month period. Meanwhile, the internal debt reached $5.502 billion, increasing by approximately $158 million or 2.9%.

Thus, Armenia's public debt is currently rising due to the internal debt. Internal sources consist of state bonds, the proceeds from which, similar to external debt, are directed by the state towards budget expenditures. External sources include international organizations such as the World Bank, the International Monetary Fund, and countries such as Russia, Germany, and others. Foreign currency bonds are also issued.

It is noteworthy that in 2023, Armenia's public debt grew by $1.208 billion or 11.4%, totaling $11.845 billion. In particular, the internal debt increased by $1.152 billion or 27.5%, amounting to $5.344 billion.

As can be inferred, with the current growth rate, the internal debt may not only equal the external debt but could also surpass it by the end of this year, the media outlet writes.