Time Magazine calls Armenia Caucasian tiger
23.12.2019,
09:52
Armenia has earned itself the nickname of Caucasian Tiger, a story in the Time magazine says in its latest issue.
YEREVAN, December 23. /ARKA/. Armenia has earned itself the nickname of Caucasian Tiger, a story in the Time magazine says in its latest issue. The story is impressed with the country's economic results in 2019, Prime Minister Nikol Pashinyan wrote in a Facebook post.
The story focuses on the changes in the country after the "velvet" revolution and the economic growth rate of 7%, citing also a decision by Moody’s to improve Armenia's rating.
The story says also that a significant role in this growth was due to change in the structure of the economy and the IT sector, where the average annual growth is 20%. There has also been progress in tourism. Annual levels of direct foreign direct investment are now running at about $ 250 million.
On August 27, Moody's Investors Service ("Moody's") has upgraded on August 27 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, -0-
The story focuses on the changes in the country after the "velvet" revolution and the economic growth rate of 7%, citing also a decision by Moody’s to improve Armenia's rating.
The story says also that a significant role in this growth was due to change in the structure of the economy and the IT sector, where the average annual growth is 20%. There has also been progress in tourism. Annual levels of direct foreign direct investment are now running at about $ 250 million.
On August 27, Moody's Investors Service ("Moody's") has upgraded on August 27 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, -0-
