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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    The global credit rating expects economic growth in Iraq due to oil revenues

    Rocky
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    The global credit rating expects economic growth in Iraq due to oil revenues Empty The global credit rating expects economic growth in Iraq due to oil revenues

    Post by Rocky Tue 05 Sep 2023, 5:22 am

    [size=38]The global credit rating expects economic growth in Iraq due to oil revenues[/size]


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    September 5, 2023[You must be registered and logged in to see this link.]
    Baghdad / Obelisk Al-Hadath: The Ministry of Finance confirmed, on Tuesday, that Iraq had maintained its credit rating.
    And the ministry stated in a statement that “in the latest report of Standard & Poor’s Credit Rating Agency (S&P), Iraq maintains its credit rating at B – / B with a stable outlook, with an emphasis on financial and economic stability, according to the report,” indicating that “the new rating came Reflecting the policy of continuous economic and financial reforms 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.
    She added, "The report adopted several indicators in its classification, the most important of which are: the Iraqi parliament's approval of the tripartite budget for the years (2023, 2024, and 2025), which aims to revive infrastructure projects and economic needs," noting that "the formation of the government at the end of 2022 led to a state of political stability." ".
    And she continued, “The report confirms that the prediction of a large surplus in the current account, within the economic expectations, will add to the already strong foreign currency reserves, which works to support Iraq’s external capabilities to service debt during the next 12 months.”
    And she pointed out that “the agency predicts that economic growth will reach 2.6% annually, during the years 2023-2026, which is linked to an increase in oil production and its repercussions on growth in the non-oil field, in addition to a decrease in annual inflation rates to 4% in July 2023 after it was 5.” -6% during the years 2021 and 2022, which is due to government measures in revaluing the currency, controlling prices, and government support for food and energy prices.
    While the agency’s report indicated, according to the statement, “the possibility of improving Iraq’s credit rating in the event of a high rate of economic growth, diversification of the public financial revenues of the oil and non-oil state, an increase in the per capita share of national income, and the continuation of financial and economic policy reform measures.”
     
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