The development of oil revenues and their reflection on the total public debt index in the Iraqi economy for the period (2004-2021)

Abstract

The research aims to study oil revenues and their relationship to the total public debt in the Iraqi economy, as well as to analyze the relationship between oil revenues and the indicator of total public debt in the Iraqi economy for the period 2004-2021.

The most important conclusions reached by the researcher is the existence of an inverse relationship in the short and long term between the independent variable (oil revenues) and the dependent variable (general annealing).

The researcher recommended moving away from the rentier economy, which mostly depends on oil revenues in financing the annual general budget, the need to diversify sources of income, not rely on oil revenues, and adopt alternative income outlets, especially achieving growth in the industrial, agricultural, tourism and other sectors, and the need to implement advanced financial policies looking for strategies to reduce Dependence on foreign debt because it is a source of concern and danger to the Iraqi economy, especially with regard to the factor of economic and political dependence resulting from public debt, and because Iraq enjoys abundant material and fertile land, we must work and strive to exploit these wealth and employ them to serve the Iraqi economy.