Armenia’s public debt surpasses level set in GDP

The public debt in Armenia’s GDP has reached 63.5 percent compared to 60 percent set under the fiscal rules, said Minister of Finance Atom Janjugazyan, who presented a report on the execution of the 2020 state budget, Report informs referring to Armenian media.

He said that in 2020 the state budget deficit exceeded the planned level of 2.3 percent of the country’s GDP or by 161 billion drams ($308.9 million), reaching 334 billion drams ($641 million) or 5.5 percent of GDP.

At the same time, the state treasury revenues amounted to 1.56 trillion drams ($2.9 billion), while expenditures reached 1.894 trillion drams ($3.6 billion).