The Role of Import Substitution Strategy in Enhancing Economic Capabilities: A Study of the Islamic Republic of Iran's Experience and the Potential for Implementation in Iraq

Abstract

A financing policy to support the agricultural and industrial sectors and raise the productivity and quality of local products by working to establish a fixed financial allocation in the Iranian economic structure is the most diversified, and the oil and gas sector is the leading sector in it, contributing a significant percentage to public revenues and representing the main pillar of the country's exports. There is also strong potential for the growth of other economic sectors. The research is based on the hypothesis that the import compensation strategy plays an important role in achieving economic stability and self-sufficiency. Among the most important recommendations: The possibility of Iraq benefiting from the Iranian experience by developing the state's general budget to finance these sectors and disburse them in the form of soft loans, i.e. increasing the percentage of investment allocation to the industrial sector.