Abstract

Iraq is one of the countries that suffer from significant deterioration in the economic growth rates that represent the main aim for all countries. it is very difficult to imagine the development process without high and sustained rates of economic growth . for a long time, Iraq has depended on the petrol sector which is dominated on the large percentage of total local product that equal 40-62 % and 78-98% of the state budget revenues and 83-99 % of total exports during the period 2003-2014. Such data confirms the presence of large structural differences that convert the Iraqi economy to be follower to the global markets and its control on the quantity and price of petrol. in addition, petrol is considered as depleting resource that cannot be relied upon to meet the current and future needs of the Iraqi people ,who live in a world controlled by conflicts of interest. This environment requires the adoption of development policy with foundations of the diverse resources in the Iraqi economy as well as developing the capacity of the various institutions to vary their products to create an economy that is based on a basket of products rather than relying on petrol as the only source for growth and development.