Risks and Problems of Lower Oil Prices in Preparing the General Budget of Iraq and the Necessity of Activating Sources of Non-Oil Income

Latfe Alhusseinawi (), Ileana Ashrafzade () and Zaid Alajwadee ()
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Latfe Alhusseinawi: PhD. Student, Bucharest University of Economic Studies
Ileana Ashrafzade: The Bucharest University of Economic Studies, Bucharest, Romania
Zaid Alajwadee: Thi-Qar University Gollege of Administration and Economics Iraq, origin country Iraq

Chapter 1 in New Approaches in Social and Humanistic Sciences, 2018, vol. 3, pp 5-20 from Editura Lumen

Abstract: The aim of the present study is to analyze the impact of the decrease in oil prices on the general budget of Iraq and to raise awareness over the importance of activating non-oil income sources in order to provide resources for the budget. The study reached several conclusions from which the most important was that the volatility of oil prices between 1921 and 2012 generated a lot of confusion regarding public budgets of Iraq, as well as real challenges, such as budget surplus or deficit. The research concludes that it is necessary to activate alternative sources of income, or non-oil resources, for financing the general budget in Iraq, especially taxes, in addition to the development of productive and service sectors.

Keywords: oil prices; general budget; sources of non-oil income (search for similar items in EconPapers)
JEL-codes: A3 I2 I3 M0 (search for similar items in EconPapers)
Date: 2018
ISBN: 978-1-910129-15-9
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Persistent link: https://EconPapers.repec.org/RePEc:lum:prchap:03-01

DOI: 10.18662/lumproc.nashs2017.1

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