External debt of Armenia is balooning

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.