Sargsyans`s "successful" presidency - Public debt of Armenia totaled 6.37 million USD
The domestic debt was 1,185,000,000 USD as of the end of April, and 1,168,700 USD. The domestic debt is up by 16.3 million USD.
During 9 years of presidency under Serzh Sargsyan, Armenia`a state debt had risen continuously. The above mentioned amount was 1.9 billion dollar in 2008, but now it has reached its peak - 6 billion dollar. It is projected that until the end of the year the total sum of the public debt will reach 6.5 billion USD.
During the period under Prime Minister Karen Karapetyan, Armenia`s state debt reached 552.5 mln USD. The current situation seems very serious from the first sight. If the country`s economy boosts as Karapetyan says, then why the state debt continues to rise?
As a result, in order to realize economic projects Armenia has to take on debt. However, the government`s efforts are fruitless. Researches show that the money taken as debt is distributed as a bribe and embezzled by the state officials.
According to the quarter 2017 results, 33.4 billion USD was spent from domestic sources and 14.2 billion USD from external sources for financing budget deficit .