Armenia public debt closing in on $8 billion

January 25, 2021 – 15:30 AMT

PanARMENIAN.Net’s public debt grew by $647.2 million in 2020 and amounted to $7,968.5 billion as of December 31, Armbanks.am reports citing data from the Finance Ministry of the country.

Within the total debt, the Armenian government accounts for more than $7.5 billion (an increase of $ 676.6 million), while the debt of the Central Bank has dropped by $29.4 million to $459.9 million.

Finance Minister Atom Janjughazyan said in November that the country’s debt-to-GDP ratio would be 66.5% by the end of 2020 against 49.9% in 2019, and will reach 67% in 2021.

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