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Effect of foreign financial loans in the Ottoman Empire 1854-1914 | ||
| Journal of The Iraqi University | ||
| Article 1, Volume 1, Issue 33, 2016, Pages 279-297 | ||
| Author | ||
| Dr.. Amin Abbas Nazir | ||
| Abstract | ||
| The structure of the Ottoman economy during the 19th century was fragile, as reflected by the recurrent financial crises and the almost permanent deficit in the state budget. This fragile structure was the result of the nature of the Ottoman economic system and the political and economic developments that took place in earlier stages of its history. The foreign debts and their consequences, which the Ottoman Empire frequented before embarking on it, only in the latter part of its life, after the last half-century of its life, as a result of the great burdens inflicted by the Crimean War (1853-1856) against Russia, And the state treasury, which placed a heavy burden on the state budget, exacerbated by the lack of a competent and accurate financial management system, as well as the military burden that consumes most of the Ottoman budget to the last days, this was a wide gate to damage the independence and sovereignty, Debt Foreign Dominance And the political decision as well. Therefore, the importance of studying this subject, as it shows the inability of the Ottoman state to manage its financial affairs and forced to resort to the West to use the needs of filling the requirements of the period specified by the research. The second part dealt with the beginning of the financial loans that the Ottoman Empire borrowed from the Western countries. The third dealt with the repeated attempts of the Ottoman Empire to fulfill the requirements of the Ottoman Empire. Its debts to Western countries, and then came the conclusion to show the most important conclusions reached. The research was based on many sources, both Arabic and foreign, each of which had the effect of completing the research on this picture. | ||
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