Armenia’s Foreign Debt Not Risky, But We Must be Cautious: Finance Minister

Armenia’s GDP will rise by 8% next year, predicted RA Minister of Finance Tigran Davtyan, while meeting with journalists today. 

“This year the tax-GDP ratio will be 17%, while next year these indicators will clearly increase. That is, we will reach, and it’s possible that we will pass, the pre-crisis 2008 indicators,” emphasized Davtyan.

According to him, Armenia’s foreign debt this year has reached a threshold of 42–44% of the GDP, which is not considered high risk.

“The threshold of debt risk is 50–60%, which many European states have reached. Of course, we shouldn’t reach that, but rather, we should be cautious,” he said.