Atom Dzhandzhugazyan told a parliamentary session on the 2006 draft budget that Armenia's foreign debt would grow by $43.9 million year on year.
He also said Armenia would repay $50.2 million and $10.9 million in interest next year. After that, he said Armenia's foreign debt would stand at $1.3 billion, or 25.1% of the planned GDP, in late 2006.
"The republic will face no serious problems from the standpoint of foreign debt repayment," Dzhandzhugazyan said. "Armenia is considered a country with a medium and even low debt burden."