Volume 18, Special Issue on Current Trends in Management and Information Technology, 2021
The Iraqi Public Budget in Light of the Global Corona Pandemic - Scenarios for Fiscal Policy Paths
Dr. Ahmed Hamdi Al-Husayny
Abstract
Iraq is characterized by the capacity of its economic resource base, whether natural or human. whether natural or human, and despite the abundance of these resources, the Iraqi economy has suffered from real economic problems such as unemployment, inflation, imbalance in productive structures due to long-term dependence on crude oil imports. This imbalance is evident through the imbalance in the gross domestic product, in which the oil sector constitutes the largest proportion. And that this imbalance was reflected in one way or another on the imbalance of the structure of exports, and then the transmission of this imbalance to the structure of the general budget. As Iraq still, despite the huge size of its budgets, lacks a fiscal policy in the real sense and in a way in which it is able to deal with shocks and imbalances, not to mention the financial pressures that Iraq endured during the period (2014-2017) due to the terrorist attack of ISIS and the huge military spending and the subsequent endurance. Additional spending pressure to rebuild the provinces that were affected by that attack. Based on the above, this study will address in its three axes the reality of the Iraqi public budget structure by analyzing the most prominent components of that structure, and then researching the real causes of the public budget imbalance, leading to scenarios that explain the paths of the public budget deficit, especially in light of the global Corona (Covid-19) pandemic.
Pages: 799-815
DOI: 10.14704/WEB/V18SI05/WEB18263
Keywords: Economic Resource, Oil Sector, Financial Pressures, Public Budget, Corona Pandemic, Fiscal Policy.