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March 28
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YEREVAN. – The national debt of the Republic of Armenia (RA) officially crossed the $5 billion threshold, according to Haykakan Zhamanak daily.

“The RA national debt amounted to 5 billion 71 million dollars as of December 31, 2015. Armenia has never had so much debt.

“4.3 billion of this amount is external debt, 461 million—internal. (…) The national debt already reaches half of our GDP.

“Last year, at the government’s initiative, an amendment was made in the RA Law on National Debt, whereby the government’s capacity to take in debts was increased. Formerly, the national debt could not exceed 60 percent of the GDP. But after the amendment, this limitation applies solely to the government debt.

“At present, the [Armenian] government debt amounts to more than 3.8 billion dollars, or 37 percent of the GDP, and it is growing rapidly. The government debt has increased by 254 million dollars in December last year alone, and by almost half a billion dollars throughout 2015,” Haykakan Zhamanak wrote.

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