“Armenia’s foreign debt will total about U.S. $3.5 bln, whereas by 2010 end — around U.S. 4 bln,” ARFD faction MP Artsvik Minasyan told NEWS.am. According to him, in 2010 the foreign debt will reach 46% of GDP.

“The Government’s policy on foreign debt is blundering. It constantly accumulates debts without effective allocation schemes,” he said, adding that thus international organizations make Armenia dependent.

Under IMF forecast, 1.2% economic growth will be registered in Armenia in 2010, whereas 3% in 2011. Starting 2011, Armenia has to allot annually about U.S. $500 bln for foreign debt repayment, that makes about 25% of state budget.