Premier: Private sector serves $800 million of Armenia's foreign debt
Premier: Private sector serves $800 million of Armenia's foreign debtARKA, 22.04.2010
On Thursday, Armenian Prime Minister Tigran Sargsyan, speaking at a cabinet meeting, said the private sector serves $800 million of the country’s foreign debt.
“There were fears that foreign debt indicator in GDP might worsen, but if current economic growth pace remains unchanged, macroeconomic stability in Armenia will be retained. I want to say that many of our anti-crisis measures have been implemented not at the account of the foreign debt, but thanks to distribution of the loan received from Russia among private companies.”
On June 12, Russia lent $500 million to Armenia.
The loan has been distributed through Armenian commercial banks.
Despite this $800 million is among the government’s liabilities, it will be paid not from the state budget – its will be paid by the private sector.
Armenia’s state debt totaled AMD 1270.7 billion by Dec 31, 2009.
Domestic debt amounted to AMD 149.7 billion and foreign debt AMD 1121.1 billion or $2966.7 million. ---0---
