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The public debt is one of the major problems facing the Iraqi economy. These debts are part of a heavy legacy resulting from many reasons and erroneous policies that led to increasing the size of the debt. Therefore, the objective of the research is to verify the possibility of financial authority in Iraq, Economic criteria of public debt. The International Monetary Fund and the World Bank in order to know whether the Iraqi debt is within safe borders or that it reached the danger stage. The research reached a set of conclusions, the most important of which is that Iraq in (2017) has exceeded the safe limits of public debt as the ratio of debt to GDP (64.5%), which is an indicator of the seriousness of the size of the Iraqi public debt and the weight of the debt burden and the inability of the Iraqi economy to meet The international reserves ratio decreased to (60.6%) in (2017). [ABSTRACT FROM AUTHOR]

The public debt (internal and external) has serious effects. The most important of these effects is the obstruction of development efforts in all its forms, including economic development and its negative repercussions on economic development in Iraq. The aim of the study is to study the phenomenon of public debt and to identify its size internally and externally, and to identify some indicators of economic development and its level of development (GDP, health, education) and to measure the impact of public debt on these indicators. The research found that the hypothesis of research, ie the existence of an inverse relationship between the public debt and indicators of economic development in Iraq during the period of research, as the proportion of public debt decreased the proportion of indicators of economic development, and vice versa when the proportion of public debt has increased the proportion of indicators of economic development. The study recommended the need to reduce the ratio of public debt to GDP and to resort to internal borrowing when there is a need to and away from external borrowing as much as possible, and increase the proportion of investment allocations in the general budget in accordance with the size of the need, and these investments will be an important tributary of GDP, Contributing to economic growth and development. [ABSTRACT FROM AUTHOR]