YEREVAN, FEBRUARY 24, NOYAN TAPAN - ARMENIANS TODAY. As of 1 January 2010, Armenia's overall state debt made 38% of GDP, with the foreign debt of the Armenian government making 28% of GDP. RA Minister of Finance Tigran Davtian announced this during the February 24 sitting of the National Assembly, when responding to a question of Hrayr Karapetian, member of ARF faction. The minister explained that these indices are in line with international standards and pose no danger from the macroeconomic point of view because in international practice, the foreign debt of a government is considered risky when it exceeds 50% of GDP. The minister said that in 2010 the overall state debt will increase and make 45-46% of GDP. It was mentioned that a state debt is considered risky when its total amount exceeds 60% of GDP. According to him, the Armenian legislation stipulates the maximum amount of the debt as well as the measures to reduce it. He assured those present that "the government in cooperation with international organizations conducts daily monitoring, the situation is controllable, and at the moment there is no cause for concern".

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