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Government budgeting and economic development in Iraq

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Abstract:

The bulk of revenue that is generated in the Iraqi economy comes from oil exports. The oil sector is an enclave sector with very little interaction with other areas of the economy. Government budgeting is the only medium by which development in the oil sector can be used to promote other areas of the economy. This demands a greater emphasis on the role of budgeting, as an important instrument for economic development. This article aims to discuss and explain this; however, the success of such a budget approach will be contingent upon clarity of accountability relationship, good governance, high skill capacity and environment stability.

Keywords: economic development; fiscal policy; governance; government budget; oil revenue; public finance

Document Type: Research Article

DOI: http://dx.doi.org/10.1386/ijcis.6.2.181_1

Affiliations: Manchester Metropolitan University

Publication date: November 15, 2012

More about this publication?
  • The International Journal of Contemporary Iraqi Studies is a new peer-reviewed, tri- annual, academic publication devoted to the study of modern Iraq. In recognition of Iraq's increasingly important position on the world stage, the time is right for a new journal dedicated to scholarly engagement with the country.
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