Armenia's overall public debt grows to over $11B

Armenia's total public debt stood at $11.116 billion, an MP from the "Armenia" faction, Tadevos Avetisyan, said in an article.

According to him, the pace of economic growth in the country is low. The author stressed that the short-term nature of the high economic growth of Armenia in the previous two years due to foreign factors created by the Russian-Ukraine conflict is already a reality.

Especially since the second quarter of this year, economic activity has begun to decline. Compared to the same period last year, GDP growth was 12.3% in the nine months of 2022, and this figure decreased by 2.8% in 2023.

In October, the increase in the Armenian economic activity index was 17.5% compared to the same month last year, which decreased three times in 2023 and made up 6% in October.

Even in 2023, in the context of GDP's double-digit increase, Armenia's public debt increased by 10.5% compared to the same period last year and amounted to $11.116 billion. In October 2022, compared to the same period last year, the public debt increased by about 10% to $10 billion.

It is noted that in 2022, compared to the previous year, GDP increased by 12.64%.





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