Yerevan/Mediamax/. Fitch Ratings thinks that Armenia and Georgia face the problem of reducing factors of external vulnerability.

Fitch Ratings published the report on the forecast for Europe’s developing countries for 2012 which reads that deterioration of economic and financial forecast on the Euro zone will entail weaker economic growth, higher financial vulnerability and a number of negative rating actions in the European countries with developing economy, Mediamax reports quoting Cbonds.

“Georgia and Armenia are advancing in terms of reducing budget deficits. Both countries benefited from the support by international financial organizations during the crisis period but they face a more difficult problem of reducing the factors of external vulnerability”, the report reads.