Armenia's National Debt Increased in the First Half of 2025

Armenia's national debt in the first half of this year amounted to 5 trillion 323 billion drams in terms of drams, and 13 billion 852 million dollars in terms of dollars. This information was shared by the Minister of Finance Vahram Hagopyan during the presentation of the report on the execution of the state budget for the first half of 2025 at the regular meeting of the National Assembly’s Standing Committee on Financial-Credit and Budgetary Affairs.

“The national debt increased by 4.5 percent in the first half of 2025, and in U.S. dollar terms, it grew by 7.9 percent. The difference in the changes in dram and foreign currency indicators is due to the differing values of the dram against the U.S. dollar at the end of 2024 and as of June 30, 2025, which were 396.6 and 384.3 drams, respectively,” said Hagopyan.

In dram terms, government debt increased by 4.8 percent, while the Central Bank's debt decreased by 2.2 percent. According to the minister, the nominal amount of public debt expressed in drams is 5 trillion 323 billion drams, and in dollars, it is 13 billion 852 million dollars. He assured that the risk indicators of the government debt portfolio are within their benchmarks. The average weighted interest rate remained at the same level in the first half of 2025 compared to the end of 2024, standing at 7.2 percent.

The internal debt continues to be higher than external debt, reaching 52 percent. The domestic debt constitutes 51 percent compared to 49 percent of foreign debt.