Abstract
The Economic Monitor offers an overview of key economic trends and policies over the preceding six months and discusses conclusions from recent World Bank work on Iraq, putting them in a longer-term and global sense and evaluating the impact of these developments and other policy adjustments Iraq's outlook. The macroeconomy, capital markets, and indices of human health and growth are all included. It is aimed at a broad range of people, like policymakers, industry executives, stock market players, and Iraq's analysts and practitioners. The research problem was represented by the fact that the Iraqi economy is single-source due to its dependence on the crude oil sector, which constitutes more than (60%) of the gross domestic product. Crude oil revenues constitute more than (90%) and neglect other economic sectors such as agriculture, industry, and tourism, whose percentage did not exceed (30%) of the gross domestic product. The weakness of non-oil exports in the foreign trade sector is the failure of macroeconomic policies to diversify the Iraqi economy. The research aims to achieve many goals, the most important of which are: identifying the concept and indicators of diversification. As well as an analysis of the Iraqi economic structure during the period (2008-2019). A forward-looking vision for economic diversification in Iraq.
Highlights
The research problem was represented by the fact that the Iraqi economy is single-source due to its dependence on the crude oil sector, which constitutes more than (60%) of the gross domestic product
The weakness of non-oil exports in the foreign trade sector is the failure of macroeconomic policies to diversify the Iraqi economy
Economic diversification has prominent importance in the past few decades, after countries, especially oil-producing countries, realized their dependence on a unilateral resource that may affect their national economy through the lack of development plans with their integrated frameworks that ensure the achievement of positive goals and the advancement of development indicators
Summary
Economic diversification has prominent importance in the past few decades, after countries, especially oil-producing countries, realized their dependence on a unilateral resource that may affect their national economy through the lack of development plans with their integrated frameworks that ensure the achievement of positive goals and the advancement of development indicators. Diversifying the economic base is one of the main objectives of the development process due to its economic, social, and political implications and its response to changing the existing economic structure This requires confronting and addressing challenges and obstacles and setting up economic policies that diversify income sources. The importance of the research emerges from the fact that economic diversification is of great importance in a country's economy as it is a development idea, as the structure of the economy From this vision, diversification must be linked to the development vision raised related to the economic structure and the changes that might accompany that in the economy's structure [2,3,4,5]. As well as an analysis of the Iraqi economic structure during the period (2008-2019)
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