Yerevan /Mediamax/. Loans received by Armenia from Russia and international financial organizations will give opportunity to fulfill state budgets of 2009 and 2010, Minister of Finance of Armenia Tigran Davtyan stated in Yerevan today.

Mediamax reports that Tigran Davtyan stressed that Armenia’s government will not reduce budget expenses.

Minister of Finance stated that the government has clearly estimated how it will maintain the state debt till year 2025, noting that the correlation of the external debt to Armenia’s GDP in the nearest 10-11 years will be at the level of 37-38%, which is lower than the allowed maximum level of 50%.

“Significant part of the attracted loan resources will be used to credit economy, thus, the private sector will also represent a source to maintain the given loans”, Tigran Davtyan stated.