🇦🇲 Armenia
Public Sector Debt · 2026
Total Debt
57.1%
of GDP
Global Rank
#99
of 192
S&P Rating
BB-
Credit rating
SOE Debt
+3.0%
3 categories
5yr Change
-13pp
improving
Where the Debt Sits
Central Government
Central Government: 54.1%Energy SOEs: 2.0%Infrastructure: 0.5%Public Corps: 0.5%
Full Debt Breakdown
Central Government54.1% of GDP
Central GovernmentIMF WEO — General Government Debt
54.1%Energy SOEs2.0% of GDP
Electric Networks of Armenia & NPPIMF TA Report 2024Power distribution and nuclear plant; SOE assets only ~10% GDP
2.0%Infrastructure SOEs0.5% of GDP
South Caucasus Pipeline & infrastructureIMF TA Report 2024Pipeline transit revenues
0.5%Public Corporations0.5% of GDP
Zangezur Copper-Molybdenum CombineIMF TA Report 2024Major mining enterprise
0.5%Total Corporate Debt46.9% of GDP
NF corporate debt (est.)WB WDI 2020
46.9%Household Debt25.3% of GDP
Household debt (est.)WB WDI 2020
25.3%All Layers Total129.3%
Credit Ratings
S&P
BB-
Moody's
Ba3
Fitch
BB-
Data Sources
IMF WEO — General Government Debtgeneral_government · Updated semi_annual
Dec 202654.1% GDP
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