According to the official data, the state debt of the Republic of Armenia totalled approximately USD 4.137 billion as of December 31, 2011, of which the external debt makes $3.568 billion.

Haykakan Zhamanak paper reports that during the past year only the external debt of the country increased by over 8 per cent or $270 million; domestic debt rose by $93 million. Thus Armenia’s state debt grew by $363 million.

In other words, the Armenian government borrowed one million dollars daily, including the week-ends, throughout the whole year 2011. Taking into account the data of the recent national census, each Armenian citizen has a debt of $1480.