Yerevan/Mediamax/. Today, the Armenian government approved state debt management strategic program for 2011-2013.

As the Armenian Minister of Finance Tigran Davtyan stated at the session of the government, approval of the program is provided for by the medium-term program of expenses for 2011-2013. According to him, taking into account the speeds of financial market development, the strategic program provides for increase of state bonds’ turnover volumes with the repayment term from 3 to 20 years. At that the Minister noted that the state bonds with the repayment term of 1 year will also remain in circulation.

Minister of Finance informed that from now on the Armenian government intends to attract loan means in cases, when the grant part does not exceed 30%, and the period of grace for the credit repayment makes no less than 5 years with a fixed interest rate.

Tigran Davtyan noted that the state debt is the main source of state debt deficit maintenance, and within the coming few years the government intends to reduce the deficit volume down to 4% of GDP.