Haykakan Zhamanak: Scandalous session in parliamentary committee
The Armenian National Assembly’s Standing Committee on Foreign Relations will hold a scandalous session on Friday, according to Haykakan Zhamanak. The session will consider seven international loan agreements worth about $260 million.
“The loans are related to electricity, water supply and utilities sectors. At the end of this year, Armenia’s foreign debt will amount to about 4,200,000 dollars. According to some estimates, that sum may exceed 5,000,000 dollars at the end of next year. Besides, under the 2015 budget, Armenia is borrowing about as much as it must pay off. So, it will take new loans to pay off the old debts, which is a bad sign against the backdrop of widespread corruption,” the newspaper says.