NATIONAL DEBT-GDP RATIO IN ARMENIA COMPRISES 37% IN 2009

/PanARMENIAN.Net/
17.12.2009 14:48 GMT+04:00

/PanARMENIAN.Net/ National debt-GDP ratio in Armenia will increase from
13% to 37% by yearend, head of World Bank Yerevan Office Aristomene
Varoudakis said.

As he told a news conference on Thursday, national debt-GDP ratio is
forecast to reach 50% by the end of 2011.

According to Mr. Varoudakis, Armenia will be able to pay external
debts, as the credits were provided on favorable terms. At the same
time, he noted that tax collection rate, now amounting 17% of GDP,
should be increased in Armenia and export volumes should be ensured
to allow for national debt settlement, starting from 2010.
From: Baghdasarian