YEREVAN. – The dynamics of national debt allow us to conclude that the risks are manageable; we don’t have an unforeseen or unpredictable negative change. Finance Minister Atom Janjughazyan told this to reporters, after Thursday’s Cabinet meeting of the government of Armenia.
“According to our projections, we [Armenia] are in such a situation that our annual projections in terms of [national] debt development (...) permit not to speak about an unmanaged increase in the [national] debt burden,” Janjughazyan said, in particular.
In his words, the national debt of Armenia is expected to increase in nominal terms.
“But that doesn’t mean that we are forecasting an increase in the [national] debt/GDP ratio,” the minister added.
He noted that the Armenian government plans to gradually reduce its aforesaid ratio, and to place it below the 50-percent level.
Also, Janjughazyan recalled that 2020 is the first year of redeeming of Armenia’s first Eurobonds, which were issued in 2013.
“The assessment that the year 2020 will be difficult [for Armenia] in terms of [national] debt repayment is a bit burdensome because there are opportunities to refinance Eurobonds, and we [Armenia] will carry them out successfully,” he stressed. “The year 2020 will not differ much [for the country] from 2019, or 2018, from the viewpoint of the [national] debt burden.”