Pashinyan comments on Armenia's recently upgraded Moody's rating
16.09.2019,
14:07
Armenian Prime Minister Nikol Pashinyan, speaking Monday at a news conference in Vanadzor, commented on the recent increase of Armenia's rating by Moody's. On August 27, Moody's Investors Service Moody's Investors said it has upgraded the Government of Armenia's local and foreign currency long-term issuer and foreign currency senior unsecured debt ratings to Ba3 from B1. The outlook has been changed to stable from positive.
YEREVAN, September 16. /ARKA/. Armenian Prime Minister Nikol Pashinyan, speaking Monday at a news conference in Vanadzor, commented on the recent increase of Armenia's rating by Moody's. On August 27, Moody's Investors Service Moody's Investors said it has upgraded the Government of Armenia's local and foreign currency long-term issuer and foreign currency senior unsecured debt ratings to Ba3 from B1. The outlook has been changed to stable from positive.
Nikol Pashinyan said the decision to upgrade the rating is driven by the assessment of Moody's that the increasing diversification of growth drivers, coupled with a lengthening track record of stabilising macroeconomic policy, raises Armenia's economic resiliency.
Moody's expects real GDP growth in Armenia to remain high over the medium term.
"Special importance was attached to development of IT industry, which is increasingly geared towards research and development of high and emerging technologies providing a strong foundation for the development of a skills- and knowledge-based economy," Pashinyan said.
Moody's expects real GDP growth in Armenia to remain high over the medium term, hovering around 5.5-6% over the next few years.
In the government budget for 2019, economic growth is projected at 4.9% and inflation at 2.7%. -0---
Nikol Pashinyan said the decision to upgrade the rating is driven by the assessment of Moody's that the increasing diversification of growth drivers, coupled with a lengthening track record of stabilising macroeconomic policy, raises Armenia's economic resiliency.
Moody's expects real GDP growth in Armenia to remain high over the medium term.
"Special importance was attached to development of IT industry, which is increasingly geared towards research and development of high and emerging technologies providing a strong foundation for the development of a skills- and knowledge-based economy," Pashinyan said.
Moody's expects real GDP growth in Armenia to remain high over the medium term, hovering around 5.5-6% over the next few years.
In the government budget for 2019, economic growth is projected at 4.9% and inflation at 2.7%. -0---
