The state debt of Armenia reached $3.795 billion, or 44.4% of GDP, and
the share will remain the same in 2011, Armenian Finance Minister
Vache Gabriyelyan said, News Armenia reports.
He claimed that foreign debt would not reach the 50% GDP point and
will start falling in 2013.
Armenia's total state debt is equivalent to 1331.7 million drams,
according to data of September 30. The National Statistics Service
said that internal debt was equivalent to 165.4 billion drams, with
foreign debt amounting to $3.228 billion.
The International Monetary Fund forecasts Armenian foreign debt will
reach 49.2% of GDP in 2011 ($1 – 367.39 drams).
Armenian inflation is set to be 5-5.5% in late 2011, Gabriyelyan said.
The previous year saw inflation of 9.4%. The annual inflation rate is
8%.
