Uzbekistan mathematicians and their discoveries

Аннотация

The Iraqi economy is one of the prominent of the creative commons attributes 4.0 License. rentier economies, as it depends largely on oil sector revenues as a major source of hard currency. This has resulted in a set of impacts on the general economy, as the growth of public revenues in the federal budget of the state and the gross domestic product depends on the fluctuations of crude oil prices in the global market, which in turn affects oil revenues. In addition, these fluctuations directly affect the management of public spending by the state, making it difficult to reduce it. There is still an ongoing debate about the causes and motives of these fluctuations. Accordingly, the Iraqi government faces great difficulties in preparing the state's general budget, if there is a decrease in oil revenues. Hence, the necessity of diversifying sources of public revenues in the federal budget and supporting and developing other economic sectors in Iraq that are suffering from an almost complete halt at the present time, and benefiting from them in financing the general budget revenues, in addition to getting rid of or reducing dependence on oil sector revenues. Keywords: The general economy, the Iraqi government faces great difficulties, economic sectors, oil sector revenues. Introduction: Given the acceleration of trade, the consequences of globalization and technological progress, these countries have become more interested than ever in increasing their competitiveness. Fiscal and monetary policies play an important role in determining competitiveness to overcome market failures and European International Journal of Multidisciplinary Research 12 https://eipublication.com/index.php/eijmrms and Management Studies European International Journal of Multidisciplinary Research and Management Studies achieve balance in light of fluctuating oil prices. The Objective of the Study role of monetary policy has increased in most To learn about the effectiveness of fiscal and monetary economies of the world, as it plays a role in controlling policy in solving economic problems and imbalances the existing imbalances in the financial and money and how to use fiscal and monetary policy tools in Iraq markets, which has a significant impact on the stability to ensure economic and financial stability and balance. of the general level of prices and interest rates, as well Chapter One as on oil prices. Oil is a resource that is an important source of energy in the world, and a strategic product Monetary Policy and Fiscal Policy: Role and that is distinguished from other products because it is Effectiveness a basic factor in global economic growth and plays an 1-Monetary policy means: It is one of the main policies important role in the economic development of in which government authorities regularly influence the countries, as it is the most important and effective market economy, and affect the pace and direction of source of energy. The global economy is characterized comprehensive economic activity (1: 2000, by instability, which negatively affects the economies M.Friedman). Based on the basic concepts presented of rentier countries that produce and export crude oil, about monetary policy, it can be defined as "an which depend mainly on the revenues of the oil sector instrument consisting of a set of measures and methods to finance various other non-oil sectors. Therefore, this that affect the quantity of money and interest rates and issue represents a major challenge for those thus affect the level of economic activity. Monetary responsible for fiscal and monetary policy, as it limits policy indicators show the economic objectives that the the possibilities of changing this policy, especially since monetary authority, the central bank, wants to achieve. the level of revenues Public expenditures are not These objectives depend on the monetary authority determined on the basis of local economic activity, but tools that the central bank uses to achieve its main goal, rather depend on external factors and economic which is to maintain the price level and the value of the development that decision-makers cannot control. The currency. In order to clarify the main tools, they are Iraqi economy is a rentier economy in the true sense of divided into two sections, which are indirect the word, as the Iraqi economy’s dependence on oil quantitative tools and direct qualitative tools. sector revenues as a primary source of hard currency For indirect quantitative tools: leads to a number of macroeconomic effects that There is a combination of tools used by monetary cause an increase in state revenues in the general authorities and included in this formation, through national budget and in the national product. which these authorities rely on market forces. The Importance of the Study intention is for these tools to affect other variables and The importance of the oil issue and financial and achieve the desired goals by providing an important ro