The Effect Of Sovereignty Funds In Iraq On The Sustainable Development

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Lect. Ammar Murad Gharkan Al-Issawi , Lect. Dr. Khudair Abdel Hussein Abd-Zaid , Asst. Lect. Qahtan Berber Kadhim


Sustainable development is a process in which the exploitation of resources, investment directives, technological development and institutional change harmonize in a way that enhances both the present and future capabilities for the purpose of fulfilling human needs, which is compatible with the Iraqi society, especially the effects of the conditions that swept Iraq after 2003 and the resulting military operations. And the many events that followed, which prevented the continuity of the sustainable development approach. These conditions had a direct impact on the indicators of development in Iraq, through the destruction of technical infrastructure services, including them and communities, such as educational, health and cultural services, in addition to the widespread devastation caused in various areas of life. The economic and social ones, and the manifestations of deterioration and slackness deepened to the extent that the Iraqi society lost the characteristics of a civilized and cohesive society. Since Iraq is one of the oil-exporting countries that has large financial surpluses, which makes those in charge of developing development plans for the economy face the inevitability of finding solutions and mechanisms to exploit these surpluses in a way that contributes to achieving sustainable development in the economic field in particular, due to the effects that sovereign funds exercise on the state From many aspects, this overall effect comes through its effects on economic variables and macro policies in the local economy.

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