Armenia’s Minister of Economy, Gevorg Papoyan, has denied claims that the country's external debt has reached $12 billion. He made the statement in a video posted on Facebook.

According to Papoyan, Armenia’s external debt is not $12 billion but $5.96 billion.

"Recently, I have received numerous messages and comments on social media expressing concern about how Armenia’s external debt supposedly reached $12 billion.

However, this is incorrect. Armenia’s external debt stands at $5.96 billion. Those spreading the $12 billion figure are either misinformed or deliberately manipulating the facts to gain political advantage by misleading the public," Papoyan stated.

He further emphasized that "our greatest adversary is our own lack of knowledge."

Earlier reports indicated that as of June 30, 2024, Armenia’s total public debt stood at $12.157 billion. According to the Statistical Committee, this figure includes $6.2 billion in external debt and $5.9 billion in domestic debt.