Standard & Poor's confirms its credit rating of Iraq at B- / B with a stable outlook

2019-08-24 | 03:41

Standard & Poor's has confirmed its credit rating for Iraq at B- / B with a stable outlook.
The agency predicted that Iraq will record a budget deficit in 2019 and the coming years, due to the decline in oil prices and spending needs.

S&P also predicted that growth in Iraq would recover in 2019, supported by expected increases in oil production and a gradual recovery of non-oil economic activity.

The agency said it could cut its ratings for Iraq if the government increased spending beyond its expectations.


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Standard & Poor's confirms its credit rating of Iraq at B- / B with a stable outlook

01:55 - 24/08/2019


Baghdad - Mawazine News
Standard & Poor's has confirmed its credit rating for Iraq at B- / B with a stable outlook.
The agency predicted that Iraq will record a budget deficit in 2019 and the coming years, due to the decline in oil prices and the needs of large spending.
S&P also predicted that growth in Iraq would recover in 2019, supported by expected increases in oil production and a gradual recovery of non-oil economic activity.
The agency said it could cut its ratings for Iraq if the government increased spending beyond its expectations


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