The impact of energy prices on some of the cash sector variables in Iraq for the period 2018-2020

Abstract

Iraq is considered one of the most countries in the world depending on traditional energy sources in the first place, crude oil and natural gas, and crude oil is the largest percentage of its total exports of Iraq, which contributes to the formation of the country's public budget, and this excessive dependence on crude oil is presented to fluctuations in the macroeconomic, while The general budget is exposed to stagnation, financial restriction, and any opportunity to make an opposite policy for the economic cycle in Iraq, as energy fluctuations often lead to confusion and great slowdown in implementing sustainable development plans and the contraction of economic activity in general, due to the great dependence in collecting public expenditures on the revenues achieved from Energy revenues, which is the main engine of the economic wheel in Iraq, so the decline in prices for a long time is a negative indication of the producing countries and exporting traditional energy sources, which has not developed or diversity of other sources that it sings from low prices in the global energy market.