Armenia’s foreign loans

In 2010 Armenia’s total foreign loans reached 3.3 billion USD. In 2011 it will reach USD 3.7% which is equivalent to almost 47% of their total GDP. The statement was made by MP Gagik Minasian from the ruling Republican Party. According to Minasian, Armenia would have no problems with servicing the loans. The MP believes that Armenia’s current economic situation gives grounds for optimism. Armenian exports are increasing, industry capacity has risen. Therefore it will have no problem servicing its loans.