Fiscal Policy Trends to Mobilize Financial Abundance Towards Achieving Sustainable Economic Growth in Iraq

Abstract

The research aims to analyze the complementary relationship in the uses of financial abundance in achieving sustainable economic growth. To achieve this goal, the deductive approach was used with the use of the descriptive analytical method using analysis tools by analyzing the data related to the general budget structure and the structure of public revenues, the growth rate of the real gross domestic product in Iraq for the period (2014-2022). Accordingly, the researcher concluded that the Iraqi economy is characterized by weak diversification in the sources of output, as the contribution of the oil sector reached (60%) compared to (40%) for other sectors. Also, the economic growth rates do not indicate sustainability because they were not achieved by mobilizing financial abundance with productive and service uses. Therefore, those in charge of financial policy must take into account directing financial abundance towards uses related to services and production in a way that contributes to stimulating sustainable economic growth in the Iraqi economy.