Experts expect steady economic development in Armenia

Experts expect steady economic development in Armenia.

International rating agency Fitch Ratings has confirmed the long-term
issuer default rating of Armenia's foreign and local currency at BB-
level. The rating outlook is stable. At the same time, Fitch affirmed
the short-term issuer default rating at B, RBC reports.

"Armenia's economy is gradually recovering from one of the most
serious financial crises in the world in 2009. The issuer default
ratings of this republic have changed for the better, and the pressure
on its foreign currency reserves and the exchange rate have weakened,"
noted David Heslem, the director of Fitch Ratings.