ArmInfo. Armenia is not in the worst situation compared to other countries in the region in terms of decrease of the credit rating. The Deputy Minister of Economy of the Republic of Armenia Avag Avanesyan expressed this opinion during a press conference at the Unified Information Center on April 15, speaking about the impact of the country's rating given by international rating organizations. In this regard, he recalled that Armenia is not the only country in the region, the rating of which, has been downgraded. However, the Deputy Minister emphasized that, in conditions of the general negative assessment, rating organizations praised the actions of the Government of the Republic of Armenia, which, in their opinion, are in tune with the development of the situation, both in terms of speed and goals.
''We should realize that almost the whole world is in a similar position. But taking into account the actions of the government and the structure of the economy, in all likelihood, the decrease in the level of Armenia's credit rating will be much lower than in the region as a whole'', Avanesyan emphasized. To recall, recently the international rating company Fitch Ratings revised its forecast for long-term issuer default ratings of Armenian Issuer (IDR) from "Stable" to "Negative", while maintaining the rating at "BB-". And he revised the forecast for Armenia's GDP growth for 2020 towards a slowdown to 0.5%.
