The Armenian economy is facing disaster as the country is on the brink of defaulting, Armenia Levon Ter-Petrosyan , the former Armenian president, has warned. Armenia ’s external debt stands at $ 5.36bn at the end of the second quarter of 2016 , with the forecast GDP in the end of the second quarter of 2016 being 3 340 drams. By the end of the second quarter of 2016 , the national debt represented 46.7 percent of the country’s GDP, a precarious economic situation for any country. Noteworthy, the forecasted GDP in 2016 amounts to 5.443 trillion drams. The Armenian authorities have had trouble paying pensions recently, with future difficulties predicted.
The Armenian economy is facing disaster as the country is on the brink of defaulting, Armenia Levon Ter-Petrosyan , the former Armenian president, has warned. Armenia ’s external debt stands at $ 5.36bn at the end of the second quarter of 2016 , with the forecast GDP in the end of the second quarter of 2016 being 3 340 drams. By the end of the second quarter of 2016 , the national debt represented 46.7 percent of the country’s GDP, a precarious economic situation for any country. The Armenian authorities have had trouble paying pensions recently, with future difficulties predicted.