Armenian finance minister says national debt grew 80%, not doubled

Armenia’s national debt has increased by 80 per cent, not doubled, Finance Minister Vahe Hovhannisyan told parliament, Caliber.Az reports, citing Armenian media.

Hovhannisyan said the debt could be repaid within 1.5 years and emphasised the government’s aim to reduce the budget deficit, which he said would help “keep the national debt within a stable and manageable range.”

Armenia’s national debt now exceeds $13 billion, a level that experts consider critical for the country’s economic stability.

By Vugar Khalilov