Analysis of financial policy indicators in Iraq for the period (2006-2019 )

Abstract

the introduction:

Public expenditures represent a cornerstone of the country's general budget and are characterized as one of the most important factors and tools affecting financial performance. The development of these expenditures is linked to state intervention, which is crucial in directing government spending towards other expenditures such as operating and investment. The Iraqi economy is characterized by continuous imbalances as a result of its heavy dependence on Oil revenues finance these expenditures, which causes an increase in the proportion of the extractive industries’ contribution to its formation at the expense of the decline in the productivity of the basic economic sectors represented in the agricultural sector, the industrial sector, and the service sector. This was reflected in the lack of economic balance between these sectors and resulted in a decline in the contribution of these productive sectors. Non-oil in the gross domestic product, in addition to the spending directives of the existing specialized institutions, which established the non-productive nature of the Iraqi economy and contributed to the deterioration of other commodity industries. The current activity was limited in light of the deterioration of spending on non-oil economic activities, which made the oil sector the dominant one and the largest contributor to the formation of public revenues necessary to cover public expenditures.