Armenia is floating in debts

Thu 06 July 2017 18:40 GMT | 22:40 Local Time

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Over the past three years the volume of remittances to Armenia has decreased by $ 830 million or 38.4 percent.

The due statement came from the Minister of Finance of Armenia, Vardan Aramyan, while speaking at the extraordinary session of the parliament on July 6, reports.

According to him, this is primarily due to sanctions imposed on Russia and weak economic development in the country.

"Armenia has increased the volume of foreign debts in order to support the economy," he said.




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