YEREVAN. – The Armenian government approved today a 36.5mm-euro loan from the Asian Development Bank, and a 40mn-euro loan from the German KfW bank.
The issue was presented by First Deputy Minister of Economy Karen Brutyan, who noted that the budget for 2019 is intended to attract about 131.4 million euros, or 149.5 million dollars, as budget support loans.
He informed that among the unreported questions of the government today another program of 9.1mn euros from the Asian Development Bank was approved. "At the next government meeting we will present another World Bank loan program of 45.8mn euros. All these funds will be used to fund the budget deficit," the deputy minister said.
He informed that as of September 30, the national debt of Armenia is 6 billion 539 million dollars. "The national debt at the end of this year will amount to 6 billion 9400 million dollars, which is 50.3 percent of the GDP. According to last year's indicator, it will decrease, as it was 51.3 percent last year,” he said.
Prime Minister Nikol Pashinyan attached importance to this indicator, noting that it allows attracting new debt if needed. "But since we have agreed that we must make a decision to attract new debt only when it results in increased state revenues and brings the economy to a new level. This process is its preparatory period for us to open up space for mega-projects,” he said.
