The financial and cash stability and its role in financial sustainability in Iraq
In Iraq and during the last three years, it has appeared and develop of general budget deficit
and increasing of general debt, accordingly most of the specialists in the financial and cash policies to study
the effect of the general debt in financial sustainability and evaluate the country ability to pursue the general
expense trend and fulfill its financial obligations for their importance and effectiveness to design and
implement and validity of the total economic policy and considered them the key standard to assess the
economic strength and the extent of its ability to assimilate the internal and external economic shocks,
related with deficit of general budget and the state assessment to achieve the financial sustainability
considered of structural nature, and its seriousness appeared in Iraq, when its oil exports, the main source to
finance the budget ,subjected to sharp decline in prices under non-existence of diversity of incomes, the
matter led to fluctuation of its general incomes and practicing surprised pressure on its general expenses,
due to this, analyzing the sound of the financial procedures and judgment on the quality of financial decision
and policies has become of great necessary, The research focuses on knowing the rate of financial resources
contribution( non-oil) to finance the budget and it has become clear the contribution of non- oil resources
weakness amount (4%) and the tax rate (1%) for the period from 2005-2015 considered very low rate
because of the backwardness of the agricultural and industrial sectors and tax decrease resulted from
administrative and financial corruption and tax evasion and weakness of tax content besides weakness of
tax system, thus the research has recommended the necessity to reform tax system and economic reform..
Keywords:liquidity;, financial sustainability, financial stability.
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- Published: 2022-05-12
- Issue: Vol. 4 No. 4 (2021): MANAGEMENT AND ECONOMICS SCIENCES
- Section: Articles