ISSN: 1817-5880

Keywords : Public budget

Ramifications of the World Financial Crises on GCC and the Role of Fiscal Policy

Dhaidan Tawirish Hashim

Gulf Economist, Volume 33, Issue 34, Pages 1-19

A clear fact for the GCC countries is the dominance of the oil sector in the economies of those countries, especially with regard to the elements of the budget, so it used to link the level of public expenditure with the expected revenue from the oil sector in the past, but in the recent global financial crisis 2007, In a different context, the correlation of fiscal policy, particularly the agreement, reflected strong links to these crises through expansionary policies in the opposite direction of the economic cycle. This study attempts to find out the reasons behind this policy and its role in dealing with the deflation of the GCC countries The previous study concluded that the previous crises were being dealt with by a policy of deflationary spending, that is, the fiscal policy was affected by the economic activity and is ineffective. As for dealing with the repercussions of the recent financial crisis, the fiscal policy followed is described as influential in economic activity, But its impact is going abroad

The Future of Energy Sector in Iraq (Energy Strategy for 2012-2030)

Amjad Sabah Abdul alli; Ahmed Jakhyour Douwa

Gulf Economist, Volume 33, Issue 33, Pages 1-50

The Iraqi Government has prepared an Integrated National Energy Strategy with the supporting of the World Bank and under supervision of a committee of the Iraqi Council of Ministers in cooperation with the Ministries of Oil , Electricity, Planning , Finance, Industry, Mining and Environment to develop the energy sectors (Oil , natural gas) to increasing its production of crude oil and the establishment of new refineries to meet the growing demand for oil products, as well as the development of investment facilities associated and free natural gas , and providing employment opportunities and achieve huge financial returns to the public budget.