Baghdad - INA
The Prime Minister's Financial Advisor, Mudhar Muhammad Salih, affirmed on Wednesday that maintaining Iraq's credit rating sends a reassuring message to investors and international financial institutions. He also indicated that the Standard & Poor's report will positively impact economic growth rates.
Salih told the Iraqi News Agency (INA): "Standard & Poor's issued its report for June 2026, maintaining Iraq's credit rating at (B-/B) and removing the credit monitoring that was previously imposed on it." He explained that "the agency confirmed in its report that the Iraqi economy is moving steadily towards strengthening financial sustainability despite regional challenges."
He added that "the agency expects above-average oil prices during 2026 to contribute to supporting financial revenues and improving the balance of payments."
He explained that "maintaining the credit rating sends clear reassuring messages to investors and international financial institutions, and strengthens market confidence in the Iraqi economy, which will positively impact attracting foreign investment and financing development projects in the coming period."
He pointed out that "the decline in geopolitical risks in the region and the reduction of threats that faced trade and energy traffic through the Strait of Hormuz will support economic activity and enhance financial stability," noting that "Iraqi oil exports are poised to return to their normal and maximum levels of approximately 3.4 million barrels per day or more to meet increasing demand in global markets."