The Importance of the Public Budget from Economic and Social Perspectives and Its Impact on Iraqi and Egyptian Society: A Comparative Study”

Abstract

The general budget represents a cornerstone of modern economic management, serving as the primary instrument through which the state organizes its resources and directs public expenditures to achieve sustainable economic growth and social equilibrium. This study examines the economic and social significance of the general budget and evaluates its impact on Iraqi and Egyptian society, within a comparative framework of the financial experiences of the two countries, both of which possess relatively advanced fiscal systems.

         The analysis demonstrates that the general budget fulfills multiple essential functions: it facilitates the allocation of resources in accordance with development priorities, serves as a mechanism for promoting social justice through income redistribution, and operates as a legislative and supervisory tool that ensures transparency and accountability in public financial management. The study further reveals that Iraq’s budget continues to confront structural challenges, including an excessive dependence on oil revenues, limited economic diversification, and volatile fiscal policies amid recurring economic and political crises. These issues have adversely affected social stability and the provision of public services.

         By contrast, Egypt has managed to consolidate a more resilient fiscal framework. Key factors contributing to its relative success include long-term financial planning, adherence to the principle of expenditure efficiency, and the expansion of non-oil revenue sources. These measures have enabled more stable and equitable development.

         The study concludes that reforming Iraq’s general budget system requires the adoption of prudent fiscal policies grounded in strategic planning, income diversification, enhanced transparency, and strengthened parliamentary and judicial oversight. Such reforms are essential to balance the economic dimension—encompassing growth and stability—with the social dimension—encompassing justice and equal opportunities. Consequently, the general budget transcends its role as a mere accounting instrument, representing instead a foundational pillar for establishing the modern state and achieving sustainable development in both Iraqi and Egyptian contexts..