Fitch: Armenia view positive

Fitch Ratings said it revised the outlook on Armenia's foreign- and local-currency issuer default ratings to positive from stable and affirmed the ratings at BB-, country ceiling at BB and short-term foreign-currency rating at B.

The change in outlook reflects expectations that disciplined macroeconomic policies and structural reforms will continue, underpinning sustainable economic growth and a declining public and external debt burden, Fitch said.

However, policy authorities face significant challenges in sustaining strong and balanced economic growth against the backdrop of strong upward pressures on the exchange rate, rapid expansion of private credit and construction activity, while also anchoring inflation expectations under the recently introduced direct inflation targeting regime, the agency added.

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