Finance Ministry: The Iraqi economy continues to maintain its credit rating as a result of reforms

 
Baghdad-INA
 
The Ministry of Finance announced today, Thursday that the Iraqi economy will continue to maintain its credit rating as a result of the economic reforms.
“According to a report submitted by Standard & Poor's on the credit rating, the Iraqi economy continues to maintain its credit rating as a result of the ongoing economic reforms of the financial policy in Iraq”, said the media office of the ministry stated in a statement received by the Iraqi News Agency (INA).
 
The statement  added that "The new classification came to reflect the continues 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."
 
According to the statement, the report of S&P Global Ratings stressed 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 public financial oil and non-oil revenues, the 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 ( the white paper) that would enhance the financial and economic policy of the Iraqi government.