Fallout of COVID-19 Pandemic on the Iraqi Economy and the Means of Addressing

Abstract

The aim of the research is to identify the effects of the covid-19 pandemic on the Iraqi economy by analyzing the data of some of the indicators of different economic sectors. With regard to the fallout of the global pandemic on the Iraqi economy, Iraq's crude oil exports fell by 38.81%) than before the COVID-19 pandemic, and this reduction in oil exports led to a drop in oil revenues by 51.94%. The pandemic has also contributed to raising the proportion of total public debt in Iraq by 12.67% than before. In the light of these results, the Iraqi economy has been hit by a real structural shock, including through the intervention of the Central Bank of Iraq through a number of actions, most notably reducing its reserves from 15% to 13%, as well as reducing interest on expired loans at 20 million Iraqi dinars from 4.8% to 3.5%, between 21 million. One billion dinars to 1 billion dinars for 4% after it was 6.3%, and other actions will be covered in this research