In the End, Is Armenia's Public Debt High or Low? Papoyan on External Debt

The Minister of Economy of Armenia, Gevorg Papoyan, has addressed the discussions surrounding the country's public debt. He commented on the topic in a video posted on his Facebook page.

"Debt, debt, debt... a topic that has been widely discussed in Armenia recently. In the end, is Armenia's public debt high or low? Has it increased or decreased? In 2017, Armenia's public debt was 59 percent of our GDP, whereas in 2025 it will be 49 percent of our GDP. This means that the burden of our public debt has decreased, which indicates that although the absolute numbers of public debt have increased in our country, managing it has become easier, and as a burden, it has lessened for our state and the Armenian people.

Let me give you an example: Imagine two families. One has a monthly income of just 200,000 AMD but has no loans, no debts, while the other has 100 million dollars and a 20 million dollar loan. Which family is living better? Of course, the second one. Therefore, the absolute size of the debt is not important; what matters is what proportion it occupies in your income, and in terms of Armenia's revenue, the volume of our debt has decreased," said the Minister of Economy.