Armenian Minister of Finance Atom Janjughazyan told reporters that the country’s state debt will amount to some US$8.9 billion by the end of 2021.

Armenia’s state debt at the end of last year was $7.968 billion.

"It’s expected that the government debt-to-GDP ratio will be 66.3%. The government's debt is supposed to approach 8.5 billion. The state debt will amount to approximately 8.9 billion. "About 66% is the debt of the government, about 70% is the total debt," said Janjughazyan.

Janjughazyan told reporters that the focus should be on faster GDP growth, rather than reducing the debt in absolute numbers.