The Impact of Oil Revenues on Selected Sustainable Development Indicators in Iraq: An Analytical Study after 2003
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Abstract
Oil revenues are of great importance to many developed and developing economies alike, as is the case for producing and consuming countries. Oil revenue-producing countries contribute to financing the general budget, achieving growth and economic development, and improving indicators of sustainable development. If these revenues are used well, the consumers, benefit from oil products by using them as fuel and raw materials in the petrochemical industries, i.e. they contribute to the production of goods and services that contribute to achieving economic and social development, and the importance of oil revenues in Iraq is evident through its role in financing the budget public, especially in terms of public revenues, because the oil sector is dominant in economic activities, as it constitutes up to two-thirds of the gross product and up to 95% of the total government financial revenues and up to 98% of the total Iraqi total exports, and in this research, we will review the possibility of investing oil revenues in achieving and improving indicators of sustainable development.
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References
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