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RATIO OF ARMENIAN STATE DEBT TO EXPORTS IS DANGEROUS
Vestnik Kavkaza
Dec 14 2011
Russia
The former Armenian Finance Minister, Doctor Edward Sandoyan, head
of the Russian-Armenian University, said that the ratio of Armenian
state debt to exports is 400%, which is dangerous, ARKA reports.
The indicator in Estonia is 12%, Russia - 30%, Georgia - 100%, Greece -
490%, Japan - 790%.
The more developed economy a state has, the more opportunities it has
to attract finances to cover the debt, for example, by issuing bonds,
the way the US did.
Armenia does not have such mechanisms, he says. The situation in
Greece proves how risky such a problem may become.
Armenian Prime Minister Tigran Sargsyan said that the Armenian debt
is 40% of GDP, a medium-sized debt.
The Armenian National Statistical Service said that, according to
September 30, the state debt was equal to 1508 billion drams. The
Finance Ministry said that domestic debt was 199.9 billion drams,
an increase of 10.9% compared with the start of the year. The foreign
debt increased by over $3.515 billion (6.6%).
$1 = 382.27 drams.
Vestnik Kavkaza
Dec 14 2011
Russia
The former Armenian Finance Minister, Doctor Edward Sandoyan, head
of the Russian-Armenian University, said that the ratio of Armenian
state debt to exports is 400%, which is dangerous, ARKA reports.
The indicator in Estonia is 12%, Russia - 30%, Georgia - 100%, Greece -
490%, Japan - 790%.
The more developed economy a state has, the more opportunities it has
to attract finances to cover the debt, for example, by issuing bonds,
the way the US did.
Armenia does not have such mechanisms, he says. The situation in
Greece proves how risky such a problem may become.
Armenian Prime Minister Tigran Sargsyan said that the Armenian debt
is 40% of GDP, a medium-sized debt.
The Armenian National Statistical Service said that, according to
September 30, the state debt was equal to 1508 billion drams. The
Finance Ministry said that domestic debt was 199.9 billion drams,
an increase of 10.9% compared with the start of the year. The foreign
debt increased by over $3.515 billion (6.6%).
$1 = 382.27 drams.