Economic Diversification in Iraq Amid Financial Policy Measures and Oil Price Fluctuations
DOI:
https://doi.org/10.31272/jae.i146.1332Keywords:
Economic diversification, fiscal policy, oil pricesAbstract
This research aims to stand on the reality of economic diversification in Iraq in light of the fluctuations in global oil prices and the financial policy measures represented by studying public revenues and oil and non-oil revenues in Iraq and measuring their diversity using some indicators of measuring economic diversity, where it became clear that the relative contribution of the oil sector to the gross domestic product increased with a sharp decline in the contribution of economic sectors to the formation of this product and a decrease in economic diversification in these sectors, despite the availability of financial and human capabilities in Iraq that qualify it to be one of the most economically diversified countries, but the economic and security conditions that it went through prevented achieving this, which made the Iraqi economy hostage to structural and structural differences that were clearly reflected in its economic performance, so the researchers recommend the necessity of increasing the relative contribution of economic sectors to the formation of the gross domestic product and added value in preparation for enhancing economic diversification.
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