National debt-GDP ratio in Armenia comprises 37% in 2009
National debt-GDP ratio in Armenia will increase from 13% to 37% by yearend, head of World Bank Yerevan Office Aristomene Varoudakis said.
As he told a news conference on Thursday, national debt-GDP ratio is forecast to reach 50% by the end of 2011.
According to Mr. Varoudakis, Armenia will be able to pay external debts, as the credits were provided on favorable terms. At the same time, he noted that tax collection rate, now amounting 17% of GDP, should be increased in Armenia and export volumes should be ensured to allow for national debt settlement, starting from 2010.
As he told a news conference on Thursday, national debt-GDP ratio is forecast to reach 50% by the end of 2011.
According to Mr. Varoudakis, Armenia will be able to pay external debts, as the credits were provided on favorable terms. At the same time, he noted that tax collection rate, now amounting 17% of GDP, should be increased in Armenia and export volumes should be ensured to allow for national debt settlement, starting from 2010.
