Prime minister: State debt is manageable

Discussions on the annual report about the implementation of the 2012 state budget of Armenia began today at the joint sitting of the Standing Committees of the National Assembly.

The main speaker, Armenian Prime Minister Tigran Sargsyan, said the high rates of economic development in 2012 were conditioned by a purposeful industrial policy.

“All the sectors of the economy contributed to 7.2% economic growth,” he said, adding that Armenia was ranked 32nd among 185 countries by the business environment index, improving its position by 18 points.

Last year Armenia’s state debt was 1 trillion 508 billion AMD or $3 billion 738 million. In the prime minister’s words, the state debt of Armenia is manageable as it does not exceed a 50% threshold compared to GDP.

ARFD faction deputy Artsvik Minasian, deputies of Republican Party of Armenia (HHK) faction Khosrov Harutyunian, Manvel Badeyan, Sukias Avetisian, Heritage faction member Tevan Poghosian, Armenian National Congress (HAK) faction member Nikol Pashinian, and independent deputy Edmon Marukian participated in the discussion.