Financial and Monetary Development in Iraq
(1920–1926)
DOI:
https://doi.org/10.65074/fsnvba68Keywords:
العراق الحديث, التطور الماليAbstract
Financial and monetary policy is no longer regarded as a domain separate from other state policies. Rather, financial and monetary policies play a vital role in confronting a state’s internal crises. In its expenditures, the government adopts carefully designed financial plans, which are defined as the totality of monetary and non-monetary measures and decisions that influence the monetary system. This also includes the central bank’s control and regulation of interest rates and the money supply in order to achieve political and economic objectives.
As for the financial aspect, it represents the government’s role in imposing direct and indirect taxes and collecting revenues that are spent on public services for individuals, particularly on social capital. Accordingly, this policy refers to the use of public authority over state revenues derived from taxes and public borrowing, as well as state expenditures incorporated within the budget. All of this is directed toward a single common objective: fulfilling the state’s responsibility to achieve various economic goals, foremost among them overall economic stability in all its dimensions.
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