Taking out a loan makes a person responsible for its repayment. The matter becomes complicated when there is a deadline for repayment.
Now, the Armenian government which is in a similar situation has found a new way to get out of the crisis: Borrowing more money.
The overall foreign debt of the country made up 33 percent of the revenues recorded in 2013 and reached to its peak due to early repayment of the Russian loan of
Artyom Janjughazyan was speaking at a meeting on the annual report about the state budget for 2013 at the parliament.
MP Naira Zohrabyan asked Janjughazyan to explain how a
"The loan was instead given to several entrepreneurs and people with close ties to the authorities," she added.
The annual report further indicated that
Furthermore, food prices increased by 4 percent, and price of non-food products went up by 3.5 percent.
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