YEREVAN. – Zhoghovurd daily of the Republic of Armenia (RA) writes: According to the data by Ministry of Finance, at the end of May 2022, the national debt of Armenia amounted to about 9 billion 581 million [US] dollars, which increased by 355 million dollars—or 3.8%—compared to the beginning of the year.

The foreign debt amounted to 6 billion 533 million dollars. Domestic debt increased by 18.2%, amounting to 3 billion 047 million dollars. If the dollar exchange rate is lower at the end of this year compared to the beginning of the year, Armenia's national debt will be lower in [Armenian] drams; so, the government's debt/GDP indicator will be lower than the projected 60.2%. When the dollar falls, the burden of national debt is somewhat lightened for the state.

The bulk of Armenia's national debt, about 70%, is foreign debt. It is mainly received and repaid in dollars. But for that, the amount provided from the state budget is naturally in RA drams, and therefore, the cheaper the dollar is, that much less money is directed to the main amounts of national debt and interest payments. The dram has been appreciating at a rapid pace against the dollar since the end of May, especially in the first two weeks of June.