Armenia's Public Debt Exceeds $11 Billion Threshold: Hetq

Armenia's public debt reached approximately $11.352 billion by the end of July 2023. According to data from the Ministry of Finance, the debt has increased by $714 million or 6.7% compared to the beginning of the year, as reported by Hetq.

The domestic public debt is growing faster than external debt. By the end of July, Armenia's external public debt stood at $6.663 billion, which increased by $218 million or 3.4% during the first seven months of this year.

The majority of external debt comes from loans received from international organizations and foreign countries. Armenia continues to attract new loans for implementing socio-economic programs. In April of this year, the Armenian government signed a new loan agreement with the International Bank for Reconstruction and Development (IBRD) titled 'Green, Resilient and Inclusive Development Policy Loan.' The total amount of the loan is €92 million.

Meanwhile, the domestic debt continues to grow at a higher rate. Over the seven-month period, the domestic debt increased by $496 million, or 11.8%, totaling $4.688 billion.

The overall debt has surpassed the $11 billion threshold since May.