Problems in preparing and implementing the Iraqi financial budget for the year 2021

Abstract

The state’s general budget, in its simplest concepts and objectives, represents the state’s work plans and programs that include achieving its economic and social objectives within the framework of the economic and social roles played by various countries in the world, in addition to the primary role of the private sector in the process of economic development. The budget is adopted in several stages and trends, including traditional and systemic characteristics, planning systems, programming and budgeting. The Iraqi budget was characterized by the inclusion of operating costs in general government spending, which affected the volume of investment spending. The general budget in Iraq has faced many difficulties and challenges during the implementation process, the most prominent of which was the security instability, which had serious consequences for the failure to achieve budget goals, whether on the operational or investment front. The Iraqi budget also suffered from a fiscal deficit from 2006 until this year. The current research deals with the most important problems in preparing and implementing the 2021 budget, which led to the disruption of financial and economic reform plans and the persistence of the reform dilemma in the state’s general budget.