As of July 1, 2026, Armenia's state debt amounted to $14.543 billion, maintaining a per capita debt burden at $4.7 thousand. Year-on-year, the growth of state debt slowed from 13% to 5%, which reduced the growth of per capita debt burden to 4.3% (from $4.5 thousand a year ago).
It is noted that currently the per capita debt burden is more influenced by domestic debt than external debt — $2.4 thousand versus $2.3 thousand. The coverage ratio of external debt by foreign exchange reserves as of July 1, 2026, jumped to 83.1% from 58.3% a year earlier.
As of January 1, 2026, Armenia's state debt stood at $14.540 billion, while external debt was $7.1 billion.
