Fitch Ratings has confirmed Armenia's long-term issuer default rating (IDR) at "BB-" with a "Positive" outlook, forecasting a slowdown in GDP growth to 5.2% in 2026 (down from a reported 7.1% growth in 2025).
The agency states that the "Positive" outlook reflects the growth of Armenia's international reserves and ongoing robust economic growth, which will support debt stabilization in the medium term.
Key rating factors include the election results that support policy continuity and the tension in relations with Russia, Armenia's largest trading partner.
Inflation in Armenia is expected to average 4.4% in 2026 before returning to the target of 3%.
