Annex B: Oil Revenue Management

Oecd

OECD Journal on Budgeting, 2009, vol. 9, issue 1, 141-144

Abstract: Oil prices have been rising significantly since 2002, reaching a high of USD 145 per barrel in July 2008.1 The huge flows of revenues present an excellent opportunity for large oil exporters, providing access to fresh capital inflows that could be allocated to savings, investment, or external debt cancellation. However, oil price volatility and inefficient management of oil revenues can also generate non-desired effects. Some of the symptoms of the so-called “Dutch disease” include overheating the economy, reducing incentives to improve the tax system, and increasing pressure for exchange rate appreciation or exchange rate volatility.

Date: 2009
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