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Finance minister: Armenia's external debtwill reach 46 percent of GDP in 2010

29 December 2009 [16:28] - TODAY.AZ
Next year Armenia's external debt will reach 46 percent of GDP, Armenian Finance Minister Tigran Davtyan said at a press conference.
The minister said in 2010 Armenia will get loan of ?100 million from EU as a full public budget loan, of which ?35 million will be a grant.

Another ?120 million trade loan intended for diamond processing is expected from Russia.

“Most probably it will not be included in state debt, as it goes to the public sector and the country merely assists its receiving,” the minister stated.

Davtyan compared Armenian economy with a place in a turbulence zone having one of the engines packed up (construction), adding that the authorities managed to lead the plane out of the hazard zone and all "passengers" came out unharmed.


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