YEREVAN, JUNE 23, ARMENPRESS. Moody's changed Armenia's outlook to stable from negative and affirmed Ba3 rating on June 22, 2023.

Moody’s changed the outlook because it found Armenia’s economic and fiscal prospects to have improved, while the risks are balanced compared to its March 2022 rating.

A part of the increased capital and workforce inflow, which improved the economic indicators in Armenia, are expected to be maintained, according to Moody’s.

The agency forecast 7% economic growth for 2023 and 5-6% for 2024.

The debt burden will be lower than during the pre-pandemic period, stabilizing around 45%, according to the assessment.