Armenian public debt about 38 per cent of GDP

The public debt of Armenia by the end of 2012 amounted to $3,738 billion, or 37.99 per cent of the GDP, Armenianreport reported, referring to the report on the implementation of the national budget in 2012, presented by Acting Minister of Finance Vache Gabrielyan at a government meeting on Thursday.

According to him, the bulk of the debt consists of direct liabilities of the government and 3.143 billion drams, or $594 million are the liabilities of the Central Bank.

The nominal value of the domestic public debt is 294 billion drams. ($1 equals 416.65 drams).