I am happy to inform that Moody’s International Rating Organization has raised Armenia’s sovereign rating from B1 to Ba3. This is what Prime Minister of Armenia Nikol Pashinyan posted on his Facebook page today. The post reads as follows:

“The decision of Moody’s is based on the factor that Armenia diversifies its economy, as well as on the macroeconomic stability that has been retained for a long period, which raises Armenia’s economic immunity. Moody’s noted in its report that real GDP growth in Armenia will remain high in the mid-term period.

The development of the IT sector is of particular importance, and the sector is the main condition for a knowledge-based economy.

This is a truly major event that increases international confidence in Armenia’s economy and significantly improves the investment attractiveness of the country.”