Fitch changed the outlook for Iraq to "stable"
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Baghdad-Iraq - Presse March -14 said the agency "Fitch" credit rating, it has adjusted its outlook for the future prospects of Iraq defaulted on long - term foreign currency debt to "stable" from negative and affirmed Ranked when "-B".
The agency said in a report that the amendment outlook reflects factors , including that " the budget is relatively improved situation compared with 2015 and the first half of 2016 due to high oil prices than expected and shrinking government spending."
Fitch said its estimates indicate contraction of the Iraqi budget deficit to 8.1% of GDP GDP in 2016 , compared with 12.3% in 2015. the agency expects that the deficit continues to fall in 2017 to reach 5.1% of GDP , "amid strong revenue growth supported by higher average oil prices."
The credit ratings agency also predicted spending growth of 12.1% after significant declines in expenses over three years.
And Iraq 's debt , Fitch said that the expectations of the government debt ratio to GDP has improved thanks to the decline in the budget deficit and rising oil prices formal amendments rates lift GDP nominal.
She added , " We estimate of the high government debt ratio to GDP to 62.7% in 2016 compared with an average 54.9% for countries classified in category B and we expect the average to 61% in 2017-2018." The Fitch expects the previous arrival of the ratio of debt the government to gross GDP to 75% in 2018.
the agency noted in its report that political risks and security unrest in Iraq levels among the highest in the countries covered by Fitch.
She added: "Significant progress in defeat al Daesh been but the military campaign to bring their wake major challenges in terms of reconstruction and humanitarian level.
And still sectarian and et
And still sectarian and ethnic tensions undermine political stability, relations with the government of Iraq 's Kurdistan region volatile. "End quote (1)