Iraq in the regional economy and social sphere and the problems of reconstruction

Abstract

The article is devoted to the analysis of the current socio-economic state of Iraq and the identification (as well as the change) of its place and role in the regional economic system of Western Asia. This area of research has been significantly updated in the XXI century due to the growth of regional instability, which has caused serious socio-economic problems in Iraq, as in other countries of the region, and generates the need to understand the dynamics, problems and prospects of socio-economic development and restoration of the national economy of Iraq, significantly destroyed as a result of the military conflict. According to the authors, this study is particularly relevant due to the growing scientific and practical interest in the Eastern Mediterranean region, including Iraq and Syria. The subject of research in this article is the socio-economic situation of Iraq and its changes in the XXI century. The directions and possibilities of stabilization and development of the national economy, as well as the role and position of the country in the region, the prospects for its more active inclusion in the regional and global economic system. The authors conclude that a significant number of problems remain in the country; many of them arise and are supported at the global and regional level. At the same time, certain stabilization factors are forming in Iraq. The authors substantiate the point of view that the most important of them can be considered Iraq's significant place in the regional economic system. The research is based on the application of historical, statistical, and comparative methods, as well as the visualization method.

Iraq: Opportunities to Increase Financial and Economic Stability in the Context of Digitalization

“…The increase in production in Iraq occurred due to the fact that industry and agriculture are gradually being restored in various regions of the country; infrastructure is being updated, including social, energy and utilities, which researchers note (for example, [3]) and as our previous study shows [20]. According to IMF estimates, economic growth in Iraq will continue in 2022 while maintaining a moderate level of inflation in the Iraqi economy, whose financial system is based almost exclusively on cash circulation and the absence of fully functioning developed financial institutions [17].…”

“…Foreign trade has a direct impact on the financial sector of the country. Iraq seeks to strengthen its position at the regional level [20]. At the same time, Iraq needs to rebuild its national economy and finances and achieve sustained success in the social sphere.…”