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THE DEBT OF ARMENIA IS BETTER THAN THAT OF OUR NEIGHBORS

Politics

The quantity of the debt is not important: what is important is that in case of having debts the country is in better conditions than its neighbors. At least this is what our officials think when they speak about the external debt of Armenia mentioning “We have the best debt portfolio”.

As for the “best” part of the debt, representative of the RA Ministry of Finance and Economy Arshaluys Margaryan says, “Our ‘tax portfolio’ does not contain strict responsibilities, the interest is 0%, and the term is 10 years”.

At present the external debt of Armenia is 1 billion 168 million AMD. The majority of the debt, 1 billion 95 million AMD, is that of the Government: the debt of the Central Bank is 166 million.

The majority of the external debt, about 70%, is that of the World Bank.

As for the internal debt, it will be 58 billion 160 million 933 thousand AMD till December 31.