Skip to main content

Debate Over Oil-Revenue Surplus Renewed in Iraq

Iraqi lawmakers are considering whether to distribute the surplus among Iraqi citizens or add it to the state’s budget.
A worker adjusts a pipe at the Nassiriya oilfield in Nassiriya, 300km (185 miles) southeast of Baghdad,September 8, 2012. Production from Iraq's southern oilfields is at 2.5 million barrels per day as the country edges closer to becoming the world's biggest source of new supplies over the next few years, a senior Iraqi oil official said. Picture taken September 8, 2012. REUTERS/Atef Hassan (IRAQ - Tags: ENERGY BUSINESS) - RTR37U0U

The project designed to distribute the country’s oil revenue surplus directly to Iraqis is once again at the forefront of recent events, as political blocs have begun to prepare for the general elections next year. This comes amid fears that it may lead to additional inflation in the country.

Legislative elections are expected to be held in March 2014 in Iraq, even though parliament has not yet voted on the electoral law. Meanwhile, the Independent High Electoral Commission said that it needs six months to complete the preparations for the 2014 elections, starting from the moment the law is passed.

Access the Middle East news and analysis you can trust

Join our community of Middle East readers to experience all of Al-Monitor, including 24/7 news, analyses, memos, reports and newsletters.


Only $100 for annual access.