External debt in Iraq and ways to address it for the period (2004-2020)

Abstract

The research focuses on the analysis of public debt (internal-external) in lraq because it is one of the sources of financing the deficit that occurs in the public budget for the state, which in turn affects the lraqi economy .

And that the lraqi economy has a general budget deficit as a result of the increase in public expenditures on the one hand and the decrease in public revenues on the other hand, this deficit is covered by the state borrowing whether it is an external debt.

Continuing to borrow excessirely or significantly leads to an increase in the size of the public debt to a level that exceeds the state`s ability to fulfillits financial obligations towards creditors, this in turn reflects negatirely on the local economy and paralyzes economic development efforts and the resulting economic and social repercussions, and the increase in the volume of funds allocated to pay the burdens of servicing the public debt instead of using them to finance economic development plans.