YEREVAN, September 17. / ARKA /. Armenia's (Ba2 stable) economy will continue to be adversely affected by an economic slowdown in Russia (Baa1 negative) due to the economic linkages between the two countries, says Moody's Investors Service in a report published Tuesday, Sept 16.

Following a stronger than expected decline in net exports and slowing remittances in H1 2014, Moody's has revised Armenia's growth forecast down to 2.1% in 2014 and 2.3% in 2015 from 3.2% and 3.6%, respectively.

The revised figures are based on Moody's forecast for the Russian economy to contract by 1.0% in 2014, followed by stagnation in 2015.

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Tags: Armenia, Eurasian region, Moody

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