An international institution is mortgaging the possibility of improving Iraq's credit rating with a high rate of economic growth and diversification of revenues

by **RamblerNash** Thu Sep 30, 2021 10:07 pm

Thursday 30 September 2021 13:42

Baghdad / NINA / - The credit rating agency (Standard & Poor's) confirmed the possibility of improving the credit rating of Iraq in the event of a high rate of economic growth in Iraq, and a diversification of the public financial revenues of the oil and non-oil state.

In its periodic report on the credit rating, the Agency (Standard & Poor's) praised the Iraqi economy's continuation of maintaining its credit rating as a result of the continuing economic reforms of the financial policy in Iraq.

The Ministry of Finance stated today, Thursday, that "the new classification reflects the continued maintenance of the level of foreign currency reserves that exceeds the service of the external public debt and the fulfillment of other external financial obligations, as a result of the rise in crude oil prices and their recovery in the third and fourth quarters of this year."

The agency also confirmed, according to its report, the possibility of improving Iraq’s credit rating in the event of a high rate of economic growth in Iraq, diversification of the state’s oil and non-oil public financial revenues, an increase in the per capita income share of national income, and the continuation of measures to reform the financial and economic policy as mentioned in the economic reform paper ( White Paper), which will enhance the financial and economic policy of the Iraqi government. / End 5

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