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Stabilizing and Rebuilding Iraq: Iraqi Revenues, Expenditures, and Surplus: Testimony Before the Committee on the Budget, U.S. House of Representatives
Joseph A. Christoff (au)
Iraq has an estimated 115 billion barrels of crude oil reserves -- the third largest in the world. Oil export revenues are critical to Iraq’s economy, accounting for over half of the country’s gross domestic product and over 90% of revenues. This testimony discusses: (1) Iraq’s estimated revenues from 2005 through 2008; (2) Iraq’s estimated expenditures from 2005 through 2008; (3) Iraq’s financial deposits through 2007 and budget surpluses; and (4) U.S. cumulative expenditures on stabilization and reconstruction activities in Iraq since 2003. Charts and tables.
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