Analysis of the Relationship between Energy Supply and Economic Sectors in Iraq for the Period (2004-2022)

Abstract

Energy is the most important component of economic development at the level of all countries, and what confirms this is that the interruption of the power supply or its fluctuation negatively affects all economic sectors, which in turn affects the life of society and its future, as the interruption of energy supplies leads to catastrophic effects on vital functions, such as production and care. Medical, security and industrial crises and recurring crises due to the shortage of refined petroleum derivatives, may lead to the cessation of production operations or their damage through the provision of products outside the specifications. For example, a power outage may lead to damage to production equipment and goods produced for industrial projects and its negative impact on productivity, unemployment and economic stability. On the other hand, social: A power outage may lead to poor quality of vaccines, severe damage to sensitive medical equipment and its negative impact on an increase in people with disabilities and unintended medical errors. On the environmental side, a power outage means an increase in diesel consumption (bio generators) and an increase in environmental pollution.

Keywords: Energy Index on Economic Development, Energy Security, Economic Development, Energy Supply

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