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

In: New Approaches in Social and Humanistic Sciences

Author

Listed:
  • 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)

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.

Suggested Citation

  • Latfe ALHUSSEINAWI & Ileana ASHRAFZADE & Zaid ALAJWADEE, 2018. "Risks and Problems of Lower Oil Prices in Preparing the General Budget of Iraq and the Necessity of Activating Sources of Non-Oil Income," Book chapters-LUMEN Proceedings, in: Veaceslav MANOLACHI & Cristian Mihail RUS & Svetlana RUSNAC (ed.), New Approaches in Social and Humanistic Sciences, edition 1, volume 3, chapter 1, pages 5-20, Editura Lumen.
    • Handle: RePEc:lum:prchap:03-01
    DOI: https://doi.org/10.18662/lumproc.nashs2017.1
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    More about this item

    Keywords

    oil prices; general budget; sources of non-oil income;
    All these keywords.

    JEL classification:

    • A3 - General Economics and Teaching - - Multisubject Collective Works
    • I2 - Health, Education, and Welfare - - Education
    • I3 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty
    • M0 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General

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