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External debt of Armenia is balooning

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The external debt of the Government of Armenia in 2012 has increased by nearly $300 million compared to 2011, reaching $3.869 billion, reports Dispatch News Desk (DND).

Constant debt increase is causing high inflation rate in the country and giving a negative trend to its economy. According to a report of the National Assembly Standing Committee on Financial, Credit and Budgetary Affairs the external debt of the Government of Armenia will reach $3.859 billion, compared to $3. 568 billion in 2011.

Asad Haroon
A netpreneur, blogger and above all; A Human :) Asad tweets from @aghaasadharoon and can also be approached on Google+

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