Today, there will be a regular meeting of the government, which includes projects in its agenda, according to which the government plans to attract a loan of 320 million dollars. Armenia intends to obtain a budget loan of 150 million dollars from the Asian Development Bank, while a loan agreement for 170 million dollars has been signed with the International Bank for Reconstruction and Development.
The head of the initiative “Armenia is Me,” economist Nairi Sargsyan, notes that this is a planned increase in debt. “That is, when it is planned to take 1-1.5 billion dollars in debt during the year, according to the current period, debts are attracted in certain portions. By the end of the year, they should reach 1.5 billion dollars. This is not surprising; we already knew about it. However, it is noteworthy that, while waiting for money from Europe, they are asking for money from the Asian Development Bank. It is clear that they are not going to Europe. On the other hand, the Universal Health Insurance Fund can no longer cover expenses, and it is urgent to constantly attract debt to compensate for expenses. This money is being attracted to close the gaps, no matter what is written in the loan agreements,” emphasizes the interlocutor of “Fact.”
It should be noted that this government has managed to increase the national debt to over 14.1 billion dollars in just 8 years. This is while before the change of power in 2018, the state debt of Armenia was 6.9 billion drams. In other words, in eight years, this government has taken significantly more debt than all previous governments combined in the 28 years before the revolution.
