Government Increases National Debt at Record Rates

The newspaper "Zhoghovurd" reports that to cover budget expenses, the government is increasing the national debt at record rates. In the past year alone, Armenia has accumulated a debt of 1.37 billion dollars. The economic situation is poor, the debt is increasing, and this will be a heavy burden.

As of the end of April, the national debt of Armenia has reached approximately 8.773 billion dollars. Of that amount, 1.37 billion was accumulated in just the last year. Over nearly 29 years, Armenia had accumulated a total of 7.403 billion dollars in debt, while under the current leadership of Nikol Pashinyan, the debt has increased by 1.37 billion dollars in just the last year.

Moreover, both internal and external debts are rising. In terms of numbers, the external debt has reached 6.743 billion dollars, while the internal debt has exceeded 2 billion dollars. Over the past year, the external debt has increased by 1.043 billion dollars, marking an increase of more than 18 percent. The growth rate is even higher for internal debt, which has grown by more than 19 percent in one year. During this period, the government has managed to increase the internal debt by an additional 326 million dollars.