REGIONAL ECONOMIC INTEGRATION TO COUNTER THE GLOBAL RECESSION (RESEARCHSAMPLE: REPUBLIC OF IRAQ FROM 2013 – 2017)

Abstract

The purpose of the research is to find solutions to the repercussions of the economic recession on thecountries of the region, especially the Republic of Iraq and neighboring countries. the researcher has adopted the descriptive analytical approach and reasoning approach to show the importance of regional economic integration because of the advantages it has to face potential economic repercussions due to the potential global economic recession, whose effects have become apparent through increased unemploymentrates, low purchasing power, low demand, and many pauses. Business and corporate bankruptcy in some vital sectors such as tourism and transportation. In addition to the fluctuation of oil prices , it is reflected in Iraq`s oil revenues, especially as the Iraq economy depends on oil revenues by 88% , and it is born and will generate a budget deficit that affects the nature of spending policy , which has become significantly contractionary , especially investment spending ,in addition to the limited role the private sector and the absence  the attractive environment for investment and the absence of a unified central stage responsible  for operating.

The research concluded that the governments in the region, especially Iraq and neighboring countries, should enter into trade agreements or seek regional economic integration to create a regional economic force capable of facing the global and local economic repercussion by taking advantage of the advantages of regional economic integration