Debt Management Network Publishes Material on Armenia’s Financial Security
The internationally recognized Debt Management Network (PDMN) has published material highlighting that Armenia’s financial security is facing significant threats (PDM | Vusal Gasimli: Financial Security of Armenia Is Facing the Threat).
According to the material, referencing Vusal Gasimli, Executive Director of the Center for Analysis of Economic Reforms and Communication (CAERC) of the Republic of Azerbaijan and Doctor of Economic Sciences, Armenia’s economic development is based on debt accumulation, and the country is becoming increasingly dependent on external financing.
The PDMN publication notes that Armenia’s external debt has already exceeded all financial security thresholds, reaching approximately 42 percent of GDP. It is also emphasized that the ratio of total public debt to GDP has been steadily increasing in recent years. Compared to 2015, the public debt-to-GDP ratio rose from 48 percent to 54 percent, while the external debt-to-GDP ratio increased from 40 percent to 42 percent.
The World Bank has forecast that this indicator will further deteriorate and reach 57.2 percent by year-end.
The material further states that financial security is a key component of overall economic security, and for a country whose economic and financial stability is under threat, engaging in provocations against Azerbaijan would mark the beginning of its decline.
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