Governance of managing the financial budget in Iraq: Obstacles and reform mechanisms

Abstract

The general budget is the link between the political system and the state's public finances. The political system is interesting in organizing and managing the governance, and the distribution of public authorities, and the relationship with individuals. As for public finance, it focuses on how to finance public services provided by the political authority to members of society. As political behavior affects the financial budget, the nature, size and type of Public revenues affect political behavior in them, so, the destabilized political behavior in post-2003 period that applying no principles of good governance that characterized successive Iraqi governments, resulted in negative effects in the public budget (waste of public money, poor level of Transparency and accountability, and the delay in approving the general budget), and in addition led to the loss of confirmed revenues with inflation in operating expenses.