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December 04
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Recent macroeconomic developments and the dram appreciation have contributed to a significant improvement in the ratio of government debt to GDP by the results of 2022. Finance Minister Tigran Khachatryan stated about this at Thursday’s Cabinet meeting of the government of Armenia, as he presented the 2023 state budget draft.

"If according to the data of 2021, the government's debt to GDP was 60.2 percent, then according to the results of this year, it will be lower than 53 percent. Considering the importance of stabilizing the government's debt in a more manageable and safer range, we plan to continue this policy in the coming year. In 2023, the inclusion of new debt funds will be carried out so that the total government debt at the end of the year be within 50 percent of GDP. Based on this, we plan that the deficit of the state budget in 2023 will be 3.1 percent of the GDP," the finance minister emphasized.

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