YEREVAN, April 28 (Noyan Tapan). Armenia’s foreign debt amounted to $1,025,189m, 75% or $810.951m of which constitute the exterior obligations of the RA government, 19% or $194.8m that of the RA Central Bank, 2% or $19.438m obligations in terms of warrants issued by the RA government and the Central Bank as of January 1. According to “The Research of the Process of Using Loans and Credits Received from Foreign States and International Financial Organizations” conducted by the NA Surveillance Chamber, service in terms of exterior obligations amounted to $68.081m in 2002. Revenues in terms of foreign obligations amounted to $115.732m with the clearing off of the basic sum $47.912m, i.e. the debt was to increase by $67.82m over the same period. However, since the SDR and euro credits make the greater part in the RA foreign debt share, while these currencies rose significantly in 2002, the rise in the RA foreign debt amounted to $113.749m instead of $67.82m. The 2002 budget planned to attract from financial organizations and foreign states under 23 projects around $62m and credits amounting to 14.6 euros. Meanwhile, those projects weren’t completed by 25% or, in other terms, the completed works value at $37.2m or 13.1m euros of the credit amounts. As many as 34.8% of the envisioned funds were to be used on construction works, 39.4% – on the acquisition of goods and materials, 8.6% – on technical assistance and consultations, 1.9% – on control and planning activities, 1.2% on maintenance, 4.4% – on allotment of subcredits, 4.1% – on maintenance expenses. According to the NA Surveillance Chamber’s data, the use of the credit means of all categories wasn’t fully implemented.
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