ANALYZING THE STRENGTH OF FISCAL POLICY IN IRAQ USING BLANCHARD INDEX AND OTHER INDICATORS DURATION (2007-2018)
Abstract
The history of debt accumulation in Iraq goes back to the eighties of the last century. The Iraqi-Iranian war, which lasted for eight years , played a major role in this accumulation, and was followed by the crisis of the invasion of Kuwait, which incurred financial obligations to Iraq, as compensation for the damages of this invasion, and then the international sanctions that were imposed on Iraq. Thus, these debts have strayed for more than forty years, far from the areas of investment, development and economic prosperity, and Iraq is still going through economic, political and security crises, which made it suffer from a large financial deficit, which deepened the debt problem on it.This study attempts to analyze the strength of Iraq's fiscal policy and its ability to pay off debts through the use of the Blanchard Index and some other indicators for the period 2007-2018 .The study Concluded that Iraq has entered the critical area of its debts since 2015 until the present time, which is consistent with the hypothesis of the study.
Keyword : debt, financial strength, solvency, Blanchard, budget deficit, gross domestic product .
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