The Ministry of Finance announced that Iraq maintained its credit rating issued by Standard & Poor’s Credit Rating Agency.
A statement by the ministry, a copy of which was received by {Euphrates News} agency, stated that “in the latest report issued by Standard & Poor’s Credit Rating Agency (S&P): Iraq maintains its credit rating at B- / B with a stable outlook,” referring to “the financial and economic stability in Iraq.”
It indicated that “the new rating reflects the ongoing economic and financial reform policy pursued by the Ministry of Finance, in addition to maintaining the level of foreign currency reserves that exceed the external public debt and fulfilling other external financial obligations as a result of the stability of crude oil prices.” The
statement pointed out that the agency saw “the possibility of improving Iraq’s credit rating in the event of an increase in the economic growth rate, diversification of the state’s oil and non-oil public financial revenues, an increase in the per capita income share of the national income, and the continuation of financial and economic policy reform procedures.”
alforatnews.iq
