A Study in the Future of the Transition to the Federal Budget of the Federal Iraqi State

Proceedings of ‏The 3rd International Academic Conference on Management and Economics

Year: 2021

DOI: https://www.doi.org/10.33422/3rd.conferenceme.2021.06.248

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A Study in the Future of the Transition to the Federal Budget of the Federal Iraqi State

Koh Igor Anatolevich, Wisam Sami Mohsin Al-Luhaibi

ABSTRACT: 

The Iraqi experience suffers from the ambiguity of the transition towards planning fiscal public policies from traditional budgets to the federal budget during the coming years, because of the incompleteness and full maturity of the federal administrative system, and on the other hand, the non-oil sectors of the Iraqi economy still suffer from many problems. Despite that, the Iraqi economic situation is still suffering from the combination of performance, the cautious rush towards development and the problem of unilateral rent, which could be a real obstacle to the emergence of this kind of financial budget. The transition to the implementation of the general policy of the Iraqi federal state towards the federal budget pattern will be an entry point towards the emergence of a solid local economy. This economy is capable of managing the Iraqi self in a manner able to use all the tools of production and competition between the local governments of the regions and governorates that are not organized in a region in order to achieve discrimination and economic prosperity for the federal state. Since federal Iraq will move towards using the federal budget instead of the current federal budget, the current research provides a detailed study of many practices of fiscal federalism in a group of federal states despite their differences in terms of managing financial imbalances, sources of revenues and expenditures, and the degree of financial independence for local governments.

Keywords: Federal Budget, Fiscal Federalism, Fiscal Public Policies.