The “Fitch” international reputation organization has given Armenia a “BB” category.
According to this organization, this means that Armenia is in the category of countries that are vulnerable and have a low level of financial stability. This organization writes that in spite of the economical growth in 2005, the GDP per capita in Armenia still covers 1.500 USD, while according to their information the average GDP mark per capita in the world covers 2.500 USD. “The tax incomes of the Armenian government cover 14% of the GDP, which appears to be the lowest mark among the countries that are included in the “Fitch” rating lists, as stated in the letter of the organization. Besides that, it states that geopolitical issues like the Karabagh conflict and bad relations with Turkey affect Armenia’s reputation too. In spite of the fact that they think the risk of restarting the war of Karabagh is less than 50%, they still believe that the lack of political solutions still keeps regional security uncertain. According to “Fitch”, in spite of the coming elections of 2007 and 2008, Armenia’s economic policy may hardly go through any serious changes. According to this organization, Armenia’s reputation may increase if it improves its business environment, recruits investments, improves its domestic capital markets, which will improve the financial possibilities of the government inside the country. Armenia is being rated for the first time ever and it is very good that we are not the last on their lists. It could happen.