Fiscal Policy and its Role in Stimulating Economic Diversification in Iraq
DOI:
https://doi.org/10.31272/jae.i147.1381Keywords:
Fiscal policy, Economic diversification, Stimulus policies, government spending, revenuesAbstract
The research aims to address the role of fiscal policy in diversifying and stimulating the Iraqi economy through the use of its financial tools represented by government spending and revenues, including tax revenues. The research relied on analytical tools to evaluate fiscal policy performance and its role in stimulating economic diversification during the period (2010-2022) due to the financial policy. It is influential in addressing the problems and challenges facing the economy. The research concluded that the Iraqi economy needs more economic diversification but rather from the concentration of revenues and exports in the oil sector at a rate of more than 90%. This led to it being greatly affected by the double shock of 2020 and the weakness of the stimulating financial policies that were taken to reduce these effects. The research also presented a set of stimulus packages for fiscal policy that help mitigate the severity of rentiers and economic unilateralism and promote diversification and sustainable growth.
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