YEREVAN, August 21, /ARKA/ Moody's Investors Service says that Armenia's B1 issuer rating is supported by the country's track record of robust economic and financial management through effective fiscal and monetary policies, and high debt affordability.

The economy is recovering solidly in 2017, on the back of an accommodative monetary policy and strengthening external demand. In addition, fiscal consolidation is in train to arrest a build-up in debt, following a period of expansionary fiscal policy.

Moreover, credit-positive commitments to pension and tax reform, trade liberalization and increasing infrastructure investment aim to boost the economy's productive capacity and address the country's low savings levels.

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