The Impact of Changes in the Oil Price On The Economy of the Middle East Countires Case Study in Krg –Iraq
DOI:
https://doi.org/10.61841/6t6qet80Keywords:
Oil Price, Economy, Middle East Countries, Kurdistan Region Government (KRG)-IRAAbstract
The purpose of this study is to examine the impact of changes in the oil priceonethe economiesy of the Middle East countries. In particular, it discusses the relationship between the dependent (GDP growth) and independent (GDP)per capita, ,theinflationnrate. .Theparttofethe Middle East'st own oil countries government should be planned to diversify its sources of yearly revenue in the budget. To this end, the majority of exertion has focused on developing the non-oilexportsectors,ssucheasmtheetourism section and the agriculturee section particularlyn manufacturing asone of the mostt importantsectorsr in any country. Thus, theresearchresearch objectivese inthis research aree too shot how and in what ways the oil price effect on the economic growth of the Middle East countries and what are the consequences of oil price fluctuating, find the change of oil price effect to the economics of Middle East countries, identify international energypriceslevelsprice levels thatl affect thedomesticeconomy,yandnfind an accountt for high energy intensity in the economy. The type of this research is quantitative. The researcherusesuses thee SPSSS program foranalyzing data,which she receives. Analysis between twofactors (oill price and the economy of the Middle East countries) inChapterr4 showsg that the correlationbetweenbetween oill price and the economy of the MiddleEastscountriesehas a value off RR 0.965,5s, whichh means thatoill priceis positivelyh correlated with the economy of the Middle East countries.
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