MOODY’S EXPECTS RUSSIA GDP TO INFLUENCE ARMENIA’S CREDIT RATING — AGENCY
Itar-Tass, Russia
Jan 16 2015
Moody’s expects Russia’s GDP to contract by 5.5% in 2015
NEW YORK, Januart 16. /TASS/. Russia’s GDP will decrease by 5.5%
in 2015 which in turn will negatively influence Armenian economy,
experts from Moody’s Investor’s Service said in their report published
Thursday. The statement on the official website came as the service
downgraded Armenia’s issuer and bond rating to Ba3 from Ba2, and
changed the outlook to negative from stable.
“Moody’s expects that Russia’s GDP will contract by 5.5% in 2015,
weakening Armenia’s economic activity given its historically strong
correlation with Russia’s growth cycle via remittances and trade
channels, with Russia accounting for 23% of total Armenian exports,”
the statement said.
The agency experts believe that
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