The Impact of Oil Price Fluctuations on The Fiscal Deficit and Surplus of The Public Budget in Iraq For The Period 2004-2019

Abstract

The study aims to shed light on the study and analysis of the impact of global oil price fluctuations on the state of deficit and financial abundance of the public budget in Iraq for the period 2004-2019, and the results of the research showed that there is a positive relationship between oil prices and public expenditures in the short term, while the inverse relationship between prices Oil, public expenditures and long-term deficit or surplus, and the researcher recommends the need to diversify the sources of public revenues and establish a sovereign fund for Iraq for the purpose of investing surpluses of oil financial resources in years of financial hardship.