OIL REVENUES AND THEIR ROLE IN ECONOMIC DEVELOPMENT IN IRAQ

Dr. Seyed Kamal Sadeghi

University of Tabriz

sadeghiseyedkamal@gmail.com

Hussein Abdulhamza Salman

University of Tabriz

hussein.abdalhamza@alkadhum-col.edu.iq

Abstract

The issue of oil revenues and their role in economic development in Iraq is of great importance in economic, political, social, and even environmental studies, especially the economy based on the oil and gas sector, which is known as depletable resources, and this are due to the large consumption of these resources, one of the problems that threaten the world today, the issue of the existence of great possibilities for the depletion of these resources, as the peak and decline of oil production lead to industrial crises in developed and developing countries, and the belief prevails among economists.

The importance of the research stems from the subject of economic development, which has become unique to an important position among the topics that occupied the world, as economic development is the backbone to ensure the right of subsequent and current generations, which is very important and difficult. It requires economic development is the use and management of resources with high efficiency and preservation, and the research seeks to achieve several goals to study the indicators of economic development goals in Iraq because it is a rentier country and analyze them. As well as clarifying the challenges that limit progress in the indicators of economic development goals in Iraq and setting requirements and ingredients.

The research reached several conclusions, the most important of which is the absence of an actual strategy for economic diversification, which led to the central government’s dependence on oil and, as a result, the continuation of the rentier nature.

The research concluded with a set of recommendations, perhaps the most prominent of which is working on diversifying sources of income and working on developing non-oil economic sectors in a way that contributes to increasing sources of revenue for the public budget and working to reduce dependence on oil revenues.

Keywords: Oil Revenues, Economic Development, Iraq, Depletable Resources.