Inancial Diversification and Its Impact on the Iraqi Economy

The topic of financial diversification is one of the important matters for the development of economies, because it defines the economic identity of society and its goals that it aspires to achieve. By examining the definition of diversification, we notice that it has become a general topic for all developed countries through their experiences in the economic fields. The researcher addressed the issue of financial diversification, which is an important part of economic diversification, in order to identify the most important obstacles that stand in the way of achieving this goal by the economic planner, who has been trying for a long time to put visions before those in charge of the economic process. Most of the studies and research that the researcher reviewed attributed the reasons for the deterioration of economic activities to government negligence and to some of the problems that the Iraqi economy was suffering from, and at the forefront of these problems were the successive were that contributed greatly to the decline in the economic performance of most of these activities. This research focuses on a very important issue, which is that despite the great revolution in the volume of public revenues achieved over the course of two decades, these revenues are occupied with distinction by the oil sector, as the volume of oil exports reaches a rate of up to 93% of the volume of local exports abroad. This corresponds to this Exports and imports amount to 5 billion worth of petroleum derivatives annually. Here is the paradox that the researcher tried to put recommenendations on to be a path for researchers who want to delve into the field.