VIDEO: We Take New Debt Every Month – Vahe Hovhannisyan

The government takes on new debt every month. This was stated by the Minister of Finance of Armenia, Vahe Hovhannisyan, during a conversation with journalists in the National Assembly on October 28.

"The debt is directed towards capital expenditures because the deficit is smaller than the magnitude of capital expenditures. Specifically, the deficit will be 5.5 percent in 2025, while capital expenditures will be 6.6 percent," he said.

The minister agreed with the viewpoint that the state takes on debt to increase the defense budget. "The budget can ensure many things, and when we need to do more than our revenue collection capabilities allow, we have to make a choice: either raise taxes or reduce expenditures. We have decided that in 2025 there will be expenditures that must also be made at the expense of increasing the deficit," he stated.