The planned deficit and the real surplus of the general budget in Iraq: Analytical study for the period (2004-2018)

Abstract

The quality of the Iraqi economy after 2003 changed due to the lifting of the blockade and the increase in the quantities of exported oil, and the size of structural imbalances in all economic sectors became evident due to the wrong policies adopted by the governments after 2003. Perhaps this is what caused the weakness of the Iraqi economy and its inability to withstand economic shocks due to the rentier nature of the Iraqi economy, The budget adopted by Iraq is the traditional budget that is not commensurate with the sum of financial resources and spending, as well as the application of the actual budget is not close to the estimated budget, but there is a large percentage of the difference between them. This is based on the inaccuracy in developing estimates. The type of budget must be changed to diagnose economic deviations and address Its reasons are to reach the best results that serve the community to reduce the problem of unemployment and poverty, and to allocate more funds for investment projects that increase the average per capita income. The researcher reached a number of conclusions, including (weak economic efficiency of the traditional budget in terms of performance and planning and weakness of investment projects that contribute to achieving sustainable development) and the researcher also reached a set of recommendations, the most important of which is (reducing dependence on oil revenues because its price is not fixed and causes difficulty in estimating revenues. And dependence on non-oil revenues, this in turn, will reduce the phenomenon of the planned deficit).