The role of fiscal and monetary policy in stimulating Circular Economy in Iraq

The issue of the Circular Economy is not a new issue to several countries, especially the developed ones. Here in Iraq it is considered newly introduced, despite the few attempts to establish projects that concern recycling most of them were doomed to fail, due to two main reasons: the first one is...

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Bibliographic Details
Published in:Ce.S.E.T. Aestimum 2020-01, p.125-145
Main Authors: Hussein, Safaa Ali, Hamdan, Ahmed Abdulzahra
Format: Article
Language:English
Subjects:
Circular Economy
Cost control
Crude oil
Demolition
Developing countries
Efficiency
Financial institutions
Fiscal Policy
Food waste
Government
Iraq
LDCs
Monetary policy
Recycling
Unconventional Monetary Policy
Value chain
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Summary:The issue of the Circular Economy is not a new issue to several countries, especially the developed ones. Here in Iraq it is considered newly introduced, despite the few attempts to establish projects that concern recycling most of them were doomed to fail, due to two main reasons: the first one is the financial and administrative corruption widespread in all departments of the country, the second one is the priorities of public spending. It is well known that Iraq was subjected to two major attacks, the ISIS entry attack in 2014 to Iraq. ISIS occupied about a third of Iraqi lands which resulted in a collapse in oil prices, as Iraq depends almost entirely on oil revenues in its budget which is the second attack. This made the Iraqi governments point public spending towards the priority of preserving national security and liberating Iraqi lands. Therefore, the circular economy project proposals were not considered a priority under these circumstances.
ISSN:1592-6117
1724-2118
DOI:10.13128/aestim-8095