Armenian government does not consider threat of foreign debt repayment priority, RA Prime Minister Tigran Sargsyan said at the Dec.25 press conference, asked about hazard related to the settlement of huge foreign debts incurred by RA Government.

According to him, presently the country’s quality on debt repayment is high and it is not a heavy burden on Armenia. This year Armenia incurred over $2bn from Russia and international organizations, thus RA state debt approached 40% of GDP.

Sargsyan considers that credit funds allocated to Armenia in 2009 can be divided into two groups. First, purpose-oriented credits directed to substructures to be covered by budget means. Second, the state subsidies earmarked to businesses. In this case, the repayment burden falls on business entities, making a part of the state foreign debt.

A.G.