US Public Debt Reaches Staggering Level - Yerevan Sounding Alarm
(MENAFN- AzerNews)
The $12 billion national debt is extremely dangerous for
Armenia.
Azernews reports, citing Day that this was stated by the
Chairman of the Chamber of Auditors of Armenia Nairi Sargsyan.
According to him, in Armenia, where more than half of the
population is poor, 13% of expenses are spent on debt
servicing.
He noted that this is a huge amount of money that could be used
to solve economic and social problems.
Sargsyan said that the main problem is that the funds raised
through debt are not being implemented in profitable areas that
could both cover the debt and create additional income. "At this
rate, the time will come when Armenia will be forced to compensate
for the debt by transferring state property," he emphasized.
The Chairman of the Chamber of Auditors noted that all those who
call on Armenia to join the European Union are against Armenia
since its economy is not competitive there. "Armenia is not welcome
in the EU. Has the EU opened a place for Armenia? No," he
concluded.
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