News - Armenia national debt amounts to more than $11 billion as of June 30

As of June 30, Armenia's national debt amounted to 4 trillion 289 billion Armenian drams, or 11 billion 103 million US dollars. Minister of Finance Vahe Hovhannisyan announced this during debates on the report on the performance of the first half of the 2023 state budget at Monday’s meeting of the Standing Committee on Financial-Credit and Budgetary Affairs of the National Assembly. According to him, the national debt of Armenia increased by 2.5% in dram terms and by 4.4% in dollar terms in the first half of the current year. "National debt management indicators are at the target level. What is more, the domestic and dram debt indicators continue to show improvement," Hovhannisyan assured. Touching on the state budget indicators, the minister of finance recalled, in particular, that according to the adjusted program of the first half, the budget revenues were planned in the amount of 1 trillion 104 billion drams, and the expenditures—1 trillion 230 billion drams. Moreover, the budget deficit was predicted at the level of 125 billion drams. "Compared to the first half of the previous year, in 2023, it became possible to record an increase in the state budget expenses both in terms of current and capital expenses. In fact, in the first half of 2023, we managed to secure a [budget] revenue of 1 trillion 160 billion drams by spending 1 trillion 26 billion drams. Thus, the surplus was 134 billion drams," said the finance minister of Armenia.