Armenia's public debt increasing Finance minister says

Armenian Finance Minister Vahe Hovhannisyan has said that Armenia's public debt is increasing due to the budget deficit, while the expenses exceed income.

“Our expenses will reach 3.17 trillion drams ($7.9 billion) in 2024, while income will be 340 billion ($850 million) less than this amount. That is, we must borrow 340 billion drams. This issue is being discussed. We borrow money from various sources to cover expenses. Our income should increase faster not to have problems,” Hovhannisyan told reporters, Caliber.Az reports, citing the Armenian media.

The Armenian minister does not see any big risks as the debt-GDP ratio will be less than 50 per cent, or more precisely 48.4 by the end of 2024.