Chairman of the RA NA Standing Committee on Financial-Credit, Budgetary and Economic Affairs Gagik Minasyan said that Armenia’s state debt totaled $3bln or 36% of GDP by the end of 2009 against $1.5bln or 13% by the end of 2008.

“Naturally, this is a drastic growth in the country’s foreign debt index, however, it allowed us to implement the governmental anti-crisis program and gain a growth in GDP by the end of 2009,” said Minasyan.

Besides, this index is an average debt loan, according to international standards, the Committee’s head noted. “In many European countries, the state debt index exceeds GDP volume,” he stressed.

Minasyan believes that the state debt should remain controllable.

In addition, he expressed opinion that the budget deficit will be decreasing during coming years, what will lead to drop in the foreign debt index.