ARMENIA’S GROSS EXTERNAL DEBT PUT AT $7.7 BILLION

ECONOMY | 01.07.13 | 10:38

Armenia’s gross external debt put at $7.7 billion

NAZIK ARMENAKYAN
ArmeniaNow

The gross external debt of Armenia as of March 2013 made over $7.726
billion, increasing by nearly $95.8 million over the same period
last year.

The National Statistical Service of Armenia reports that nearly
40 percent of the gross external debt originated within the state
government system, more than 14 percent in the private sector, almost
9 percent in monetary regulation bodies and more than 25 percent in
commercial banks. It says that almost 12 percent of the gross external
debt is due to direct foreign investments received by organizations
in various economic fields and intercompany loans, reports Panorama.am.

As of late March 2013, Armenia’s gross external assets made more
than $4.817 million, decreasing by about $22.6 million in the first
quarter of the year. As a result, Armenia’s net foreign debt in Q1
of 2013 grew by over $118.4 million, totaling $2,909,490.