THE IMPACT OF OIL RESOURCE REVENUES AND NATIONAL SPENDING ON IRAQI LOCAL SAVINGS FOR THE PERIOD (2005-2021) A STANDARD STUDY

Povzetek

The study aimed to verify the extent of the impact of oil resource revenues and national spending on Iraqi local savings. The study used the descriptive analytical approach, the quantitative research method based on (secondary data) time series for the period from 2005-2021 (study sample) were analysed via the( EViews9) program using the ordinary least squares method to show the impact, ADF test statistic to show the stability of the series, Johansen test for joint integration of variables, the study found that there is a strong direct correlation between oil resource revenues and local savings, there is a strong inverse correlation between national spending and local savings, there is a significant impact of oil resource revenues and national spending on local savings in Iraq, there is joint integration between the variables. The researchers recommend addressing issues such as gas flaring and using associated natural gas for power generation or export, using a portion of oil revenues to invest in renewable energy projects, creating a sustainable source of revenue in the long term, allocating funds to projects with the highest economic or social return, and transferring responsibilities for infrastructure investment to the private sector.