2024-03-15 09:15:03
“Standard and Poor’s” rating agency has reaffirmed the “B+”/”B” ratings of the Republic of Armenia for long-term/short-term sovereign lending in foreign currency and national currency with a “stable” outlook.
It is noted that the stable economic growth of Armenia, the reduction of geopolitical risks, the strengthening of Armenia’s external position, and the slower rate of foreign debt accumulation will contribute to the improvement of Armenia’s sovereign rating.
The reconfirmation of the rating awarded to Armenia by the agency is a positive impulse, especially taking into account the global and regional developments and the macroeconomic uncertainties caused by them, and documents the positive dynamics of the economic development rates, the reliability of the socio-economic reforms carried out by the Government and especially the macroeconomic policy.
Based on the reconfirmation of the rating in 2022. the high economic growth recorded in the first half of the year is due to the inflow of people and capital, the resulting increase in domestic demand, the high rate of tax revenue collection, the mentioned factors, as well as the decrease in the government debt/GDP ratio under the dram appreciation.
The “stable” outlook is conditioned by the agency’s expectations of maintaining stable economic growth in the coming year and in the medium term. As possible risks, the possible consequences of the economic decline of Russia, as the main trade partner of RA and the main source of remittances, and the factors existing in the conditions of military tension with Azerbaijan, are singled out.