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    Emil Lazarian
  • 2 years ago
    • Categories: 2022

Next year state debt forecast to be 5 trillion 246 billion drams

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 12:53,

YEREVAN, JULY 13, ARMENPRESS. According to the preliminary version of the 2023 state budget of Armenia, the state debt is forecast to be 5 trillion 246 billion drams next year, which comprises 58% of the gross domestic product (GDP), Minister of Finance Tigran Khachatryan said during a meeting in the parliamentary standing committee on financial-credit and budgetary affairs.

Tigran Khachatryan presented the composition of the state debt, its servicing process and the management in the field of finances.

According to the minister, 5 trillion 246 billion drams state debt have been forecast for 2023.

The 2023 state debt will be serviced from domestic sources by 255 billion drams. Borrowed funds will be involved for debt servicing.

260 billion drams will be provided for servicing the state debt interests in 2023.

The minister said that previously foreign currency was prevailing in the composition of the state debt, but as a result of actions taken the Armenian dram has now its place in the composition of the state debt.

The minister said that fundamental reforms will soon be made in the composition of the state debt.

Emil Lazarian: “I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS