الأزمة المالية العراقية 2020 : الأسباب و الحلول

Abstract EN

In this research, the researcher discussed the stifling financial crisis in Iraq, highlighting the main reasons for its aggravation, starting with the political causes of the angry protests that led to the resignation of the government and the delay in forming a new government, which disrupted the submission of the general budget law to parliament that made 2020 free of budget, this was one of the reasons for legislation on financial borrowing drafted laws.

Concerning the health reasons, it was the spread of the Coronavirus pandemic, which disrupted economic movement and was one of the causes of the collapse of oil prices.

The financial and economic reasons that were the focus of all the disorders we mentioned above, adding to the problems and the troubles that the Iraqi financial and economic system suffers.

It was also highlighted that possible solutions to mitigate the effects of this crisis have been put forward, since a view has been put forward that includes activating non-oil revenues such as taxes, duties, border revenues and drying up the sources of corruption that have taken part of these revenues.

Moreover, the investment law has been enacted to attract external investors in search of capital, which reduces the burden on the public treasury during these difficult times.

Moreover, public spending mechanisms have to be reprogrammed and rationalized more accurately, and reduce overspent for less important issues at least during this period so that the State Treasury can provide financial revenues to cover the expenditure section of the general budget.

We have recommended a set of recommendations, which, taken together, focused on seeking to make the political system more stable by reaching the real representation of the people through free and fair elections with international supervision that would ensure the genuine representation of the people, and supporting the judiciary to be more autonomous and stronger in the pursuit of the corrupt.

The aim of this study is to clarify the main causes of the financial crisis and to make recommendations that the researcher sees fit for a solution.