Armenian Government Expects to Reduce Debt to GDP Ratio Next Year

The Armenian government expects the foreign debt to GDP ratio to be at 55.4%, the minister of finance Vardan Aramyan said during the discussion of amendments to the legislation on the state treasury and national debt. “We plan to reduce it by 1 percentage point,” the minister stated, Armenpress reported.

The deputy speaker of parliament made an inquiry about efficiency of spending of loans. Michael Melkumyan asked what specific actions the government is taking to spend loans efficiently. Vardan Aramyan said international organizations have output indicators an the loan programs that are not efficient are blacklisted. Armenia is among countries with the best outputs, the minister said.