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Armeniaâ€™s public debt reaches $5.6 billion

13 October 2016 09:53 (UTC +04:00)

Baku. Musa Ahmadov – APA-Economics. Armenia’s overall public debt at the end of September 2016 stood at $5.6 billion, having increased by 2.2% from the previous month, Arshaluys Margaryan, the head of a ministry of finance department in charge of pubic debt, APA-Economics reports citing to Armenian media.

Of that amount $5 billion is owed by the government. It increased over the month by 4.9% or $240.4 million.

According to the Ministry of Finance, Armenia’s national debt by the end of 2016 will increase by $789 million to $5.867 billion. In late 2017 it will amount to $6.277 billion. The public debt to GDP ratio is expected to increase from 48.8% in 2015 to 54.1% in 2016 and 55.1% in 2017.