أثر النفقات وااليرادات العامة يف اداء سوق العراق لألوراق املالية للمدة5002-5002

Abstract

This study deals with the analysis of the impact of public expenditures and
revenues on the performance of the Iraqi market for securities for the period
- . Financial policy is one of the means by which the state intervenes in
economic activity using its revenues and expenses to generate desired effects in
order to achieve certain objectives. The securities market is a means of applying
fiscal policy through the marketing of government bonds, thus providing the
market with the necessary financial resources to finance government spending and
thus achieve economic growth.
The results showed that public expenditure affects the performance of the Iraqi
market for securities through its impact on its indicators, while public revenues
affect less than public expenditure in the performance of the market. Because of
the adoption of the policy of income or revenues in Iraq on oil revenue as the only
source of funding for objects or items of expenditure, which has weakened the role
and importance of other sources of funding, especially taxes, and make the
financial system is affected quickly due to fluctuations in external variables,
especially oil prices, resulting in fluctuations in Public spending and hence the
aggregate demand and increase the risk of investment has become difficult for the
private sector in the decision-making and the development of medium and longterm plans, leading to a decline in investment, especially in the Iraqi market for
securities.
The study concluded with a set of recommendations, the most important of which
is the need to reduce the gap between current expenditures and investment
expenditures in favor of investment expenditures directed at expanding
production capacities and infrastructure as well as restricting consumer spending
in a manner that ensures rationalization and optimal allocation, which may be
reflected in increased investment in the Iraqi financial market.