Mon, 8 September
18.1 C
Yerevan
USD: 384.03 RUB: 4.80 EUR: 443.29 GEL: 142.29 GBP: 510.11

Fitch affirms Armenia at ‘B+’; outlook positive

YEREVAN, May 27. /ARKA/. Fitch Ratings has affirmed Armenia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘B+’ with a Positive Outlook. Fitch said in a press release that Armenia’s ratings balance a credible macro policy mix and stronger income per capita and governance indicators relative to peers against high public and external debt and tense relations with some neighboring countries.

The Positive Outlook reflects institutions that have underpinned macroeconomic and financial stability through a period of significant political change, a stronger growth outlook relative to peers, and a commitment to a medium-term programme of government debt reduction.

“External vulnerabilities have re-emerged following a sharp widening of the current account deficit in 2018, although this may partly reflect statistical issues,” the agency’s analysts say.

They point out the confidence in improvement of bases of the economic policy, management and institutional effectiveness and a sustainable improvement of external balance as key factors that can separately or together lead to updating the rating. It is also important to be confident that the ratio of the state debt to GDP is going down.

As key factors that can separately or together lead to revision of ‘Stable’ outlook, the Fitch analysts point out increase of outside risks, potentially connected with a high deficit of current account transactions and financial changes that can cause disability to ensure the midterm downward movement of the ratio of the state debt to GDP.

The analysts think that Armenia will continue enjoying a wide social and political stability. They don’t forecast a longstanding escalation of the conflict with Azerbaijan over Nagorno Karabakh to a level that could impact economic and financial stability. -0—

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

ACBA Federation promotes rural tourism in Armenia: the success story of Manana guest house (video)

Four years prior, Astghik Ghazaryan, a professional educator, established the Manana guest house in her hometown of Marmarik.

Freedom Broker Armenia ranks as one of the largest taxpayer in Armenia

Freedom Broker Armenia has been recognized as one of the largest taxpayers in the country, underscoring its leadership in the investment sector and commitment to sustainable business practices.

Armenia to receive 45.3 million euros from ADB to improve healthcare quality

Armenia will receive 45.3 million euros from the Asian Development Bank (ADB) to improve healthcare quality, said First Deputy Minister of Health of the Republic of Armenia Lena Nanushyan during a meeting of the parliamentary standing committee on financial, credit and budgetary issues.

The UAE instead of Europe : why Armenia needs to change its approach to crypto regulation – EXCLUSIVE

The Armenian Forum on Cryptocurrency Assets, organized by the Cilicia Business Club, was recently conducted in Yerevan.

LATEST NEWS

spot_imgspot_imgspot_img