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Fitch Ratings Declared about the Stability of the Economy in Armenia

International rating agency Fitch Ratings affirmed the long-term Issuer Default Rating (IDR) of Armenia's foreign and local currency at B + level, which is a "stable" prognosis. According to the recent economic indicators, Armenia's economy shows higher growth than expected by the agency earlier, Radio Liberty reports.

The agency noted that the risks of Armenia, connected with Russia, increase the risks to perspective growth in the country and the balance of payments and, consequently, affect the rating. Russia remains the most important source of net transfers from nationals working abroad.

 

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