FEATURES OF IRAQI ECONOMY: COMPARTIVE STUDY TO SOME ECONOMIC ELEMENTS FOR THE YEARS (1990-1995-2000-2005-2010-2015-2019)

Year 2019, Volume: 5 Issue: 15, 1414 - 1422, 14.01.2020

Mstfa Rasool Fakhir Alaa Kadhim Farhan

https://doi.org/10.18769/ijasos.592113

Abstract

Iraq is considered as a rich country with multiple natural resources,
but wars and financial and political crises led to the destruction of the
country's infrastructure and prevented the investment and distribution of those
recourses in a fair and just ways, as Iraq is still suffering from
unemployment, poverty and lack of essential services which have stopped the
wheel of industry and agricultural lands receded significantly, so the country
transformed into a consuming country depends only on neighboring countries and
industrialized countries to secure its agricultural and industrial needs. The
results of the study were shocking as the Iraqi government depends mainly on
exporting of oil to cover its operational and investment expenses in more than
(85%), and neglected the rest of the economic sectors. As for poverty, the
percentage of those who fall below the poverty line (23%) as well as the
unemployment rate that exceeded (23%). The country's debt has recently reached
($133) billion, and the latest reports by Transparency International
organization considered Iraq as one of the worst (20) countries in terms of
administrative and financial corruption.

Keywords

Iraqi economy, unemployment, poverty, investment, industry, oil exporting

References

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