Yerevan /Mediamax/. Lowering of FITCH rating on Armenia by 1% will not influence on state creditworthiness and will not create additional risks.

Mediamax reports that Armenian Prime Minister Tigran Sargsian said this in Dilijan today during his meeting with participants of All-Armenian “Miasin-2009” Educational Youth Forum.

The Prime Minister stated that the given factor may have negative influence on the private sector and will complicate the process of attracting loans from foreign partners. According to him, as a result, entrepreneurs will attract more expensive means.

Tigran Sargsian noted that FITCH rating was reduced almost on all countries of the world. According to him, reduction of the rating on Armenia was conditioned also by the high level of dollarization and by reduction in construction volumes.

The Prime Minister stated that Armenia does not need new loans, since quite recently the leadership of the country attracted long-term means at favorable conditions.

During the meeting, Tigran Sargsian also presented the government’s program on coming out of the crisis and answered the questions of the forum participants.