A comparative study of some financial sustainability criteria in Iraq for the period (2004-2019)
DOI:
https://doi.org/10.25007/ajnu.v13n2a1253Keywords:
Keywords: financial sustainability, Buiter’s Indicator, Short Term primary Gap Indicator, Fiscal Consistency Indicator, Initial Financial Deficit Indicator.Abstract
The present study is a research attempt to form the theoretical and practical framework for the variables it dealt with, as interest in the topic of financial sustainability has increased at the local and international levels, especially after the financial crises and calamities that many countries have been exposed to, and financial sustainability has become one of the important indicators in judging the success or failure of financial policy. The state, especially in the working to reduce the public debt to GDP ratio and increase government imports in return for reducing its government expenditures, as an important goal emphasized by most of the international financial institutions represented by the World Bank and the International Monetary Fund. The study started from a problem embodied in a question that asked to be answered in order to clarify many available theoretical and methodological indications, and then diagnose the level of its importance and impact. The study was also strengthened by analyzing, evaluating and measuring the sustainability of the financial situation in Iraq based on a set of special indicators, and it presented a set of conclusions, the most importance of which is the lack of the state's financial policy to an important place in contemporary economic policy, due to the presence of political interference in economic activities and the lack of a clear vision of successive governments, especially after (2003) on the financial and economic situation of the state. It also came out with a set of proposals, most notably the interest in achieving financial sustainability in Iraq on a periodic basis by reconsidering monetary, financial policy and reaching an ideal level of coordination between them for the purpose of achieving sustainable growth.
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