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ROA Faces No Serious Problems in Debt Servicing In Next Few years

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  • ROA Faces No Serious Problems in Debt Servicing In Next Few years

    ACCORDING TO OFFICIAL DATA, ARMENIA TO HAVE NO SERIOUS PROBLEMS
    CONNECTED WITH EXTERNAL DEBT SERVICE DURING NEXT FEW YEARS

    YEREVAN, August 2 (Noyan Tapan). Expenditures on the RA external debt
    service decreased by 25.5% during the first six months of this year in
    comparison with the same period of last year and made 4.6 bln drams
    (about 8.8 mln dollars).

    According to the prognosis of the RA Ministry of Finances and Economy
    Armenia will have no serious problems from the point of view of the
    external debt service in the case of preservation of the policy
    carried out in the sphere of the management of the external state
    debt, as well as in the case of preservation of the current rates of
    GDP growth, the exports, the revenues of the state budget. Regardless
    of the growth of the absolute amount of the external debt, the share
    of the privileged credits in the debt structure increased constantly:
    as of late 2003, their share made about 93%.

    At the same time, if the RA external debt made 43.3% of GDP in 2002,
    it made 39.3% of GDP in 2003. As of the end of last year net current
    value of the debt made 26% of GDP. 7.6 bln drams were foreseen by the
    state budget for the external debt service. The nominal value of the
    internal state debt will make 48.5 bln drams at the end of this year.

    From: Emil Lazarian | Ararat NewsPress
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