11:58, 2 September, 2021

YEREVAN, SEPTEMBER 2, ARMENPRESS. The Armenian government has commented on the report published by Moody's Investors Service ("Moody's") which affirmed Armenia’s Ba3 local and foreign currency long-term issuer ratings and foreign currency senior unsecured rating. The outlook remained stable.

During today’s Cabinet meeting, Minister of Finance Tigran Khachatryan says given that Moody’s last assessment was made in 2019, after which in 2020 Armenia’s economy faced major risks because of the COVID-19 pandemic and the Artsakh War, this assessment records increase in the resistance of the country’s economy to such risks.

He says that the economic policy of the Armenian government from this perspective is effective.

“This is a very important signal for international investors because it reaffirms the stable outlook of Armenia’s economic growth and the favorable economic policy of the government for investments”, he said, adding that the report has a special place to matters relating to the management of the state debt.

“Although the government debt-GDP has increased in 2020, comprising 63.5%, Moody’s says that it attaches importance to the Armenian government’s policy to reduce this from 60% in next five years”, the minister stated.

Editing and Translating by Aneta Harutyunyan