Armenia's public debt rises

At the end of last year, Armenia's public debt increased by $647.2 million compared to 2019 and amounted to $7.968 billion, Report informs, citing the Armenian press.

The significant rise in the country's public debt was caused by the coronavirus pandemic and the Second Karabakh War.

Of this amount, $7.508 billion is said to be government debt. Thus, the government's commitment increased again last year.

Armenian Finance Minister Atom Janjugazyan noted that public debt is expected to grow in 2021. However, the minister stressed he did not see any critical risks for the economy. The obligation of the Central Bank of Armenia is $459.9 million.