Factors Affecting the Sustainability of Public Debt in Iraq (2003-2019)
Keywords:
debt sustainability, budget deficit, interest rate, economic growthAbstract
In light of the increasing oil revenues and the comprehensive economic openness to the outside world that Iraq has witnessed since (2003), we have not noticed any change in the reality of the Iraqi economy, except for the entrenchment of the rentier nature of the economy.
The study started with the hypothesis that Iraq suffers from high indebtedness and that the public debt in Iraq did not lead to achieving financial sustainability. It is also correct to practice the internal public debt by establishing a market for government bonds, which has a positive impact, directly or indirectly, by raising the government's ability to be financially sustainable and to exercise its financial activity in society.
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References
The References
First: published research
Ahmed Jassim Muhammad, The Future of the Iraqi Economy and the Proposed Alternative to Achieving Development, Journal of Economic and Financial Research, No. 2, December 2014.
Saadoun Hussein Farhan and Thabet Khalil Ibrahim, monetary stability and its impact on economic growth in a number of developing countries for the period (1990-2010), Kirkuk Journal of Economic and Administrative Sciences, Volume (4) Issue (2), 2014.
Adnan Mohsen Al-Zaher, Public Budgets in the Arab Countries, United Nations Development Program 2007.
Second: theses
Ahmed Hamid Juma Al-Hathal, Analysis of Factors Affecting Government Debt - Selected Experiences with Special Reference to the Iraqi Economy, Unpublished PhD Thesis, College of Administration and Economics, Al-Mustansiriya University, 2022.
Third: annual reports
ESCWA, Monetary and Financial Outlook, No. 3, 2006.
The Central Bank of Iraq, the Central Agency for Statistics and Research, annual reports for separate years for the period (2003-2019).
The Central Bank of Iraq, statistical releases for the period (2003-2019)
Ministry of Finance, Public Debt Department, External Debt Department, separate bulletins for the period (2003-2019).
Ministry of Finance, Public Debt Department, Public Debt Department and External Debt Department for the period (2003-2019)
Ministry of Finance, Public Debt Department, bulletins for separate years for the period (2003-2019).
Fourth: the website
Ahmed Brihi Al-Ali, Public Debt Policy and the Characteristics of the Oil Economy, 2015, research published on the website of the Central Bank of Iraq http://www.cbi.iq
Ahmed Brihi Al-Ali, Theory of Government Debt, a research paper consulting on the official website of the Central Bank of Iraq, November 2020 http:/www.cbi.iq
