A comparative study of some financial sustainability criteria in Iraq for the period (2004-2019)


  • Abduljabbar Badee Abdulazeez College of Administration and Economics, University of Dohuk, Dohuk, Iraqi Kurdistan
  • Mohammed Shaban Hasan College of Administration and Economics, University of Dohuk, Dohuk, Iraqi Kurdistan




Keywords: financial sustainability, Buiter’s Indicator, Short Term primary Gap Indicator, Fiscal Consistency Indicator, Initial Financial Deficit Indicator.


   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.


Download data is not yet available.


أولاً: المصادر باللغة العربية:

إسماعيل، ميثم العيبي، وهذال، أحمد حامد جمعة، (2019)، تحليل إستدامة الدين العام في ظل ريعية الإقتصاد العراقي للمدة 2005-2015، مجلة العلوم الإقتصادية والإدارية، جامعة بغداد، المجلد 25، العدد 113، العراق.

حسين، عبير محمد ثروت، (2009)، الإستدامة المالية بين النظرية والتطبيق، رسالة ماجستير، كلية الإقتصاد والعلوم السياسية، جامعة القاهرة، جمهورية مصر العربية.

خن، فتحي، وعبدالرزاق، فوزي، (2016)، تقييم مؤشرات الإستدامة المالية في الجزائر في ظل تراجع أسعار النفط في الأسواق العالمية، مجلة العلوم الإنسانية، جامعة محمد خيضر بسكرة، المجلد 45، الجزائر.

سليمان، عمرو محمد محمود، (2010)، إدارة الدين العام: الإنتقال من مفهوم الإستدامة المالية إلى مفهوم الإستدامة الإقتصادية، المجلة العلمية للبحوث والدراسات التجارية، المجلد 2، العدد 4، جمهورية مصر العربية.

سماقه يى، أيوب أنور حمد، وباداوه يى، سردار عثمان، (2015)، تحليل الإستدامة المالية في إقليم كوردستان العراق، مجلة جامعة الأنبار للعلوم الإقتصادية والإدارية، المجلد 7، العدد 13، العراق.

الطائي، هناء عبدالحسين، والشلال، مهند عزيز محمد، (2015)، قياس إستدامة الدين العام في ظل برامج الإصلاح الإقتصادي لدول مختارة (مصر والأردن) للمدة 1990-2011، مجلة الكوت للعلوم الإقتصادية والإدارية، كلية الإدارة والإقتصاد، جامعة واسط، المجلد 1، العدد 17، العراق.

عناية، حسين غازي، (1998)، المالية العامة والتشريع الضريبي، دار البيارق للطباعة والنشر والتوزيع، عمان، الأردن.

وزارة التخطيط العراقية، الجهاز المركزي للإحصاء، مديرية الحسابات القومية، دائرة المحاسبة، التقارير السنوية للمدة (2004-2019).

وزارة المالية العراقية، دائرة المحاسبة ودائرة الموازنة، النشرات السنوية للمدة (2004-2019).

ثانياً: المصادر باللغة الإنكليزية:

Abdullatif, E., (2009), Development of Government Bonds market in Iraq: Application of Japan Experiences to Iraq, No. 449, March.

Aleš, K., (2006), Fiscal Sustainability - Definition, Indicators and Assessment of Czech Public Finance Sustainability, Working paper series 3, Czech National Bank, October, https://www.cnb.cz/.

Ayumu, yamauchi, (2004), Fiscal sustainability: the case of Eritrea, IMF Working Paper, WP/04/7, January, https://www.imf.org/.

Chikaza, Zakaria, (2015), Analysis of financial sustainability and outreach of microfinance institution (MFLS) in Zimbabwe: case study of Harare, Research assignment presented in partial fulfillment of the requirements for the degree of Master of philosophy in development finance, Bosch university.

Estermann, T., & Pruvot, Enora B., (2011), financially sustainable universities II: European universities diversifying income streams. European university association. Belgium.

Garrick, Hileman, (2012), the Seven Mechanisms for Achieving Sovereign Debt Sustainability. Working Papers No.162/12, London School of Economics. March.

Giammarioli, N., Nicke, C., Rother, P., & Vidal, J., (2007), Assessing Fiscal Soundness: theory and practice, European Central Bank, Fiscal Policies Division, occasional paper series, No. 56, March, https://www.ecb.europa.eu/pub/pdf/scpops/ecbocp56.pdf.

IMF, (2000), Debt and Reserve Related Indicators of External Vulnerability, Prepared by the Policy Development and Review Department in consultation with other Departments, March 23.

IMF, (2007), Sovereign Debt Restructuring and Debt Sustainability (An Analysis of Recent Cross-Country Experience), Washington, D.C., USA.

International organization of supreme audit institutions. (2010), Debt indicators. INTOSAI general secretariat, A-1033, November, Vienna, Austria, https://www.coa.gov.ph/wgpd/Anexos/160211/DebtInd_i.pdf.

Ronald, Sturm, & Markus, Muller, (1999), public deficits a comparative study of their economic and political consequences in Britain, Canada, Germany, and the United States, Longman, New York, U.S.A.

Schadler, S., (1995), IMF conditionality: Experience under stand-by and extended arrangements, Part II: Background papers, Vol. 2, September, ISSN: 0251-6365, International monetary fund, Washington, USA.

Sineviciene, L., & Railiene, G., (2015), The Nexus between Government Size, Tax Burden and Private Investment, 20th International Scientific Conference Economics and Management, ICEM, Procedia - Social and Behavioral Sciences, Kaunas University of Technology, School of Economics and Business, Doi: 10.1016.

Talvi, E., & Vègh, C., (1998), fiscal policy sustainability: A basic framework, new sustainability indicators, Washington, D.C., Inter-American Development Bank, December, USA.

Talvi, E., Vègh C., & Izquierdo A., (2003), Sudden Stops, the real Exchange Rate, and Fiscal Sustainability: Argentina lessons, NBER Working Paper series, No: 9828, Cambridge, 1050 Massachusetts, National Bureau of Economic Research, July, https://www.nber.org.

Wyplosz, C. (2007), Debt Sustainability Assessment: The IMF Approach and Alternatives. Graduate Institute of International Studies. HEI Working Paper No: 03, Geneva Economics.



How to Cite

Badee Abdulazeez, A., & Shaban Hasan, M. (2024). A comparative study of some financial sustainability criteria in Iraq for the period (2004-2019) . Academic Journal of Nawroz University, 13(2), 457–476. https://doi.org/10.25007/ajnu.v13n2a1253