How Will They Repay Their Debt? Hrant Bagratyan Addresses Armenia’s

HOW WILL THEY REPAY THEIR DEBT? HRANT BAGRATYAN ADDRESSES ARMENIA’S FOREIGN DEBT

Tert.am
15:41 ~U 25.03.10

By taking out loans and overloading its foreign debt Armenia shouldn’t
compare itself with other countries, Armenia’s former Prime Minister
Hrant Bagratyan said at press conference today, reminding journalists
that the degree of development among countries differs.

According to Bagratyan, the current volume of Armenia’s foreign debt
is quite large as the export makes up only 7% of the GDP.

"How will they earn that money so they can pay back their debt?" asked
Bagratyan.

He also said that the government always responds to his statements
and remarks. According to him, it’s not unlikely that this time too
the government may instruct a deputy minister to say that Armenia’s
foreign debt has not yet reached 50% of the GDP.

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