YEREVAN. – Armenia's national debt could reach 54.4% of GDP by the end of this year, Finance Minister Vardam Aramyan said during the Cabinet meeting on Thursday.
Two years ago, this figure was only 43.7%, he added.
Talking to the reporters after the meeting the Minister said: “We must not forget that during the last years we have been using borrowed funds to support the economy in the face of external shocks.”
Under current legislation, the Government debt must not exceed 60% of GDP.
