Open Accessالأزمة المالية في العراق الأسباب وسبل لمعالجة
Author(s) -
Shaimaa Mohammed
Publication year - 2020
Publication title -
mağallaẗ al-kitāb li-l-ʿulūm al-insāniyyaẗ/mağallaẗ al- kitāb li-l-ʿulūm al-insāniyyaẗ
Language(s) - English
Resource type - Journals
ISSN - 2617-460X
DOI - 10.32441/kjhs.01.01.p5
Subject(s) - revenue , treasury , financial crisis , economic policy , economics , fiscal policy , government revenue , rationalization (economics) , financial system , language change , business , finance , state (computer science) , monetary economics , macroeconomics , political science , art , literature , algorithm , computer science , law , microeconomics
Iraq is characterized by a unilateral economic system that relies on oil revenues. Oil is the main source of finance for the state's treasury. More than 97% of revenues are oil revenues and almostnegligible non-oil revenues. This may be the main reason behind the financial crisis in Iraq today , Since the collapse of oil prices since mid-2014 through 2015 and 2016 until mid-2017 led to thisfinancial crisis, in addition to other factors helped to grow the crisis, including financial corruption and lack of rationalization of spending. Which led the state to reconsider its fiscal policy and followed the reform policy to eliminate or at least alleviate the impact of the financial crisis. However, the reforms introduced by the government were temporary, and most importantly, contrary to constitutional and legal rules. , Which has led many to seriously reflect on the search for ways to deal with this crisis and to reachlong-term radical solutions. The most effective solution may be to develop revenue sources, eliminate financial corruption.