Public Debt of Armenia in the First Half of 2024

According to the results of the first half of 2024, Armenia's public debt has reached 12 billion 157 million dollars. This was announced by the Minister of Finance, Vahe Hovhannisyan, during the discussion of the report on the execution of the state budget for the first half of 2024 at the meeting of the Permanent Parliamentary Committee on Financial and Budgetary Issues.

This, he noted, corresponds to 4 trillion 718 billion drams. “Our indicators are manageable. It is noteworthy that the average maturity of debt has slightly decreased compared to the beginning of the year, reaching 7.1 years. And this is against a target of 7-10 years,” said Hovhannisyan.

The minister added that this change is due to the policies implemented in recent years, specifically regarding the issuance of shorter-term government bonds, which were prompted by rising interest rates.

“The risks are manageable. The risks related to the exchange rate are manageable, as the share of domestic debt is steadily increasing and currently stands at 50.7 percent,” he added.

At the same time, Vahe Hovhannisyan noted that the burden of servicing the debt will increase in the coming years. Specifically, repayments of Eurobonds worth more than 300 million dollars are expected at the beginning of next year.