Analyzing and measuring the effect of adopting a reference price for a barrel of oil in preparing the public budgets of Iraq for the period 2006- 2020 | ||
| مجلة جامعة الانبار للعلوم الاقتصادیة والاداریة | ||
| Article 19, Volume 13, Issue 2, May 2021, Pages 333-353 PDF (981.63 K) | ||
| Author | ||
| Mohamed Salman Mohamed . | ||
| . | ||
| Abstract | ||
| Iraq is almost completely depending on oil revenues, the fluctuations in oil prices affect its financial plans, and thus its ability to carry out the duties properly. This research analyzes and measures the impact of adopting a reference price for oil in preparing Iraqi annual public budgets. The research reached some conclusions, including: That Iraq's adoption of a reference price for its exported barrel of oil has an impact on its public budgets during the research period, as that price rises by one dinar, it will improve the budget balance by approximately 258 dinars. Increasing oil revenues by one dinar will improve the budget balance and reduce its deficit. And that Iraq’s adoption of that reference price enables it to estimate public revenues and oil revenues properly, as the more the adopted reference price has been calculated according to scientific bases, the more accurate the estimate of public and oil revenues, and the more applicable the financial and economic plans, and the accessibility to general goals and achieve them is greater. The research also made some suggestions. | ||
| Keywords | ||
| reference price; oil; public budgets; Iraq | ||
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