Armenia’s state debt in 2011 made up $4,129 bn, including a foreign debt of $3,868 bn, Deputy Finance Minister stated at the presentation of annual reports on 2011 state budget implementation.

Atom Janjughazyan, however, found it hard to provide information on the sum planned by the next year’s state budget for the servicing of the state debt.

The official also disagreed with a member of Armenian National Congress (ANC) opposition bloc member Hrant Bagratyan in the fact that according to the World Bank methodology, Armenia’s state debt has increased dramatically to reach an exorbitant sum, especially considering the debt to exports ratio.

The official denied the information, advising to consider state debt to GDP ratio as a basis.