Armenia's foreign debt composes almost half of country's GDP

Presently, it makes up 47-48 percent of GDP, Armenian Finance Minister Tigran Davtyan said adding that allowance rate is 60 percent.

Foreign debt will make 30 percent out the allowed rate of 50 percent.

Davtyan assured that Armenian national debt will decrease starting from 2010.

The minister stated that government will be more prudent and does not intend to borrow loans, as those received this year are sufficient for the next year.

Currently, Armenia negotiates with IMF and WB on restructuring of the pending loans to improve terms of both loans maturity and interest rate.

/News.am/