Purpose: The research aims to study the impact of the Corona pandemic on the Iraqi economy and its effect on the various economic sectors, especially after the succession of political crises (October demonstrations and the government's fall). Theoretical framework: The Corona pandemic has left many problems, and consequences beyond the spread of the disease, the most important of which is the almost complete halt in economic life, resulting in the significant decline in various commercial activities, the severance of global supply chains, the collapse of financial markets, the suspension of global trade movement, and the rise in unemployment rates that included the entire developed and developing world, and Iraq is one of them. It caused a worldwide recession. Third, it forced the government to adjust several economic sectors to the economic, financial, and health crises. Design/methodology/approach: The study examines covid-19's influence on Iraq's economy. The article analyzes external debt and economic factors for 2004-2021 and interprets economic development indicators for Iraq for 2004-2021 using an economic model. Findings: The study concluded that the Corona pandemic had more impact on Iraq than other countries due to the conditions that occurred before Corona, from the demonstrations, which were due to the political and economic situation in the country and poor services, and then the impact of the collapse in global oil prices due to the decrease in global demand for oil, which led to a reduction in public revenues to a third, which hindered the government's ability to present the draft budget for the year 2020. Research, Practical & Social implications: we Focus on the banking sector's recovery after the pandemic, this paper provides a unique and critical discussion of the knowledge gap between the economic sciences and the public's awareness of the topic, as well as its implications for the recovery of various economic sectors in Iraq following COVID-19. Originality/value: This article discusses the gap between economic science knowledge and public awareness and its consequences for the revival of several economic sectors in Iraq following COVID-19, emphasizing the banking sector.
Purpose: This paper aims to study the possibility of external debt achieving financial sustainability by learning the most important economic variables affected by external debt and possible scenarios to achieve financial sustainability. Theoretical framework: The sustainability of external debt is one of the critical issues in economies, especially emerging ones. Establishing structural projects, infrastructure projects, and economic investment is one of the essential factors in achieving financial sustainability. However, Iraq has resorted to external borrowing to confront the economic, political, and security crises represented by the drop in global oil prices. Design/methodology/approach: The research seeks to explore developments related to Iraq's foreign debt and analyze developments related to financial sustainability in the Iraqi economy. To achieve the research goal, the paper uses an analytical approach by analyzing external debt and economic variables for the period 2004-2021 and interpreting indicators of external debt and financial sustainability in Iraq for the period 2004-2021 using the econometric model. Findings: The results show that the external debt is not optimally exploited and directed towards consumer spending and imported goods. A few of them are towards projects with low income, which led to the lack of real financial sustainability in the Iraqi economy. Furthermore, the increase in reliance on public borrowing to finance the budget deficit led to a rise in the internal debt, especially in 2020, which means an increase in financial obligations on the state not only abroad but also internally, which made the revenue structure burdened with financial commitments internally and externally, as well as not directing domestic savings to contribute In building the economy and working on its consumption, which prevented the achievement of financial sustainability. Research, Practical & Social implications: This paper contributes to the search for an alternative standard model capable of effectively explaining the financial sustainability of the external debt in Iraq. Originality/value: This is one of the first papers that examine the possibility of achieving the financial sustainability of external debt in Iraq using the econometric approach.
Purpose: The paper aims to explore the possible economic effects of Iraq's accession to the World Trade Organization. Theoretical framework: The World Trade Organization occupies an important position among the international economic organizations as it is concerned with international trade, and it adopts the achievement of smooth and smooth trade exchange in light of the liberalization of trade and the reduction of obstacles to its launch across borders, and based on this role, the accession of countries to this organization bears the responsibility of adhering to its laws and decisions in order to maximize the momentum of exchanges Trade between member states, and since agricultural and industrial products constitute an important aspect of international trade and occupy a great place in the interests of the organization and its rules of work, and therefore the accession of Iraq to this organization has become a necessity despite what will result in many positive or negative effects, so Iraq cannot remain isolated from International consensus, and this is what requires him to complete the accession requirements that began in 2004, especially in light of the transformation of the Iraqi economy management after 2003 from the philosophy of the inclusive economy to the philosophy of the free economy. Design/methodology/approach: The paper adopts an exploratory analysis approach to show the impact of Iraq's accession to the World Trade Organization on the Iraqi economy. Findings: Iraq will pay a big price for its delay in joining due to the restrictions that countries can impose on its accession, especially since the OIC countries, which numbered (164) countries, control nearly (97%) of the volume of world trade in the sectors of goods, services, intellectual property and transactions. Finance, communications and information technology services. Research, Practical & Social implications: In this paper, we propose a plan for future study and emphasize Iraqi executive and economic policymakers' achievements. Originality/value: The findings show an increasing number of publications, with the economic and commercial sectors being the primary contributor. Oil-producing nations in the Middle East also feature prominently.
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