Armenia: Government debt

* indicates monthly or quarterly data series
 Armenia

Government debt as percent of GDP

 Latest value 49.20
 Year 2022
 Measure percent
 Data availability 2006 - 2022
 Average 44.37
 Min - Max 16.40 - 67.40
 Source Statistical Committee of Armenia
The latest value from 2022 is 49.2 percent, a decline from 63.4 percent in 2021. In comparison, the world average is 60.08 percent, based on data from 172 countries. Historically, the average for Armenia from 2006 to 2022 is 44.37 percent. The minimum value, 16.4 percent, was reached in 2007 while the maximum of 67.4 percent was recorded in 2020. See the global rankings for that indicator or use the country comparator to compare trends over time.
Select indicator
* indicates monthly or quarterly data series


Recent data
Armenia - Government debt - Recent values chart

Historical series
Armenia - Government debt - historical chart - 2006-2022




The government debt in Armenia and other countries is calculated as the total amount owed by the national government to domestic and international lenders. It is reported as percent of GDP so that we can evaluate its magnitude relative to the size of the economy.

Government debt of about 60 percent or less of GDP is not considered a problem. The government can make payments without strain and even has some room to borrow more. If debt levels reach 80-90 percent that may have negative effects on the economy. Debt above 120 percent of GDP is quite detrimental.
Definition: Debt is the entire stock of direct government fixed-term contractual obligations to others outstanding on a particular date. It includes domestic and foreign liabilities such as currency and money deposits, securities other than shares, and loans. It is the gross amount of government liabilities reduced by the amount of equity and financial derivatives held by the government. Because debt is a stock rather than a flow, it is measured as of a given date, usually the last day of the fiscal year.

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 Related indicators Latest Reference Measure
 Government spending, percent of GDP 14.07 2023 percent
 Government spending, in dollars 3.41 2023 billion U.S. dollars
 Fiscal balance, percent of GDP -1.93 2023 percent
 Government debt 49.20 2022 percent
 Government expenditure 246.08 Q2/2024 billion
 Tax revenue 21.83 2022 percent
 Commercial tax rate 22.60 2019 percent
 Tax preparation time 264 2019 hours
 Number of taxes 15 2019 taxes
 Taxes on goods and services 54.40 2022 percent
 Taxes on international trade 2.82 2022 percent
 Income and profits taxes 34.68 2022 percent
 Foreign aid 300.35 2022 million U.S. dollars
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