Zhoghovurd: State debt of Armenia grows amid worsening economy
‘Zhoghovurd’ paper says that Armenia’s state debt has grown by $1 billion 151 million in 2014-2015 during the tenure of the government led by Prime Minister Hovik Abrahamyan. In 2015, the debt increased by $894 million 200 thousand, that is, the daily debt of the government is $2.5 million. Under the draft state budget for 2016, the debt is planned to increase by $369 million.
The paper notes that all this can be ignored if loans had contributed to the economic development. But the fact is this money does not have any positive effect on the country’s economy, apart from the circumstance that fortunes of some officials have considerably grown.