National debt-GDP ratio in Armenia comprises 37% in 2009December 17, 2009 - 14:48 AMT PanARMENIAN.Net - 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. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Lithuania sending €100,000 to help Armenia fight floods consequences Armenian Prime Minister Nikol Pashinyan took to social media to thank his Lithuanian counterpart for the contribution. Armenia: Rescue workers restore pedestrian bridge for flood-hit community Rescue workers on Wednesday, June 5 restored a pedestrian bridge in the town of Alaverdi in Armenia’s north. U.S. “deeply troubled” by Azerbaijan's arrest of civil society members The United States is deeply troubled by the continued arrest of members of Azerbaijani civil society, Matthew Miller has said. Turkey condemns Uruguay’s recognition of Armenian Genocide Turkey has condemned a newly passed law in Uruguay that recognizes the Armenian Genocide, TRT reports. |