EXTERNAL CREDISHATTERED ARMENIAN ECONOMYTS

News.am
19:40 / 08/13/2009

According to Fitch Rating forecast, GDP decline in Armenia by 2009
end will make 15%. Rosinkom informs, that Fitch lowered Armenia’s
rating from "BB" to "BB-", that proves dramatic decrease of position.

Fitch experts consider that external credits shattered Armenian
economy despite the anti-crisis policy carried out by the Government.

Rated the third – is the worst result. This evidences the vulnerability
of the economy, insufficient, narrow base, as well as the dependency
on individuals, working abroad.