According to Minister of Finance Vardan Aramyan, for two consecutive years in 2014-2015, Armenia was in a critical state, in order to overcome it, the government has expanded fiscal policy by attracting more external debt. According to him, the state debt has grown by 13%.

"International structures have responded to our policy, which we design and implement since 2017, as well as in the 2018-2020 mid-term expenditure plan. We have good trends, and international institutions, such as Moody's and Fitch, have estimated that the government's fiscal policy is reasonable. Therefore, we can state that in case of 13% increase in debt, international rating agencies did not make any changes in Armenia's rating, "said Vardan Aramyan.

At the same time he noted that at present Armenia has a stable prospective rating. "If our fiscal policy was not reasonable, the rating companies would have risen a flag and would have made a change in the prospect: from stable into negative, which didn't take place."

Vardan Aramyan also said that international investments have not diminished in the bond market. "The perception of businessmen investing in our bonds on the international capital market is also positive towards our policy."

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