Armenia Not At Risk In Paying Back Public Debt: Finance Minister

ARMENIA NOT AT RISK IN PAYING BACK PUBLIC DEBT: FINANCE MINISTER

news.am
Feb 24 2010
Armenia

Armenia’s public debt of 38% will reach 45% of GDP till this year
end, but according to international standards it’s not that high,
as the peril point in international practice is over 60%, said RA
Minister of Finance Tigran Davtyan during the question-answer in the
Parliament today.

Thereafter, he explained the MPs that public debt comprises of
foreign, internal and CBA’s debt. "The highest rate of current 38%
falls to foreign debt — 28% of GDP. However under the international
standards this is not a high percentage either, having the foreign
debt upper ceiling at 50% and more.

In addition, Davtyan informed that RA Government drafted relevant
arrangements in case the public debt exceeds 50% limit.