United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2008-08-05 monographic deposited born digital 47 p. GA 1.13:GAO-08-1031 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-08-1031 P0b002ee18037ded8 f:d081031 DGPO 2010-08-12 2011-03-28 GAOREPORTS-GAO-08-1031 machine generated eng fdlp REPORT GAOREPORTS-GAO-08-1031 GAO-08-1031 Budget functions Budget obligations Budget outlays Budget surplus Cost analysis Crude oil Data collection Economic analysis Economic development Economic growth Economic policies Exporting Financial management Foreign economic assistance Foreign governments Future budget projections International organizations Investment planning Investments abroad Iraq War and reconstruction Monetary policies Cost awareness Cost estimates Iraq Other Written Product A83273 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 reconstruction, accounting for over 90 percent of the Iraqi government's revenues. In June 2008, GAO reported low 2007 spending rates by the Iraqi government for some critical sectors in the face of declining U.S. investments in these sectors. This report examines (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, (4) U.S. cumulative expenditures on stabilization and reconstruction activities in Iraq since 2003, and (5) factors affecting Iraq's efforts to accelerate spending. GAO analyzed relevant data and reviewed documents, including Central Bank of Iraq oil receipts data, International Monetary Fund's (IMF) reports, translated copies of Iraqi budget and expenditures, and U.S. agency funding data and reports. GAO also interviewed officials from the Departments of Defense (DOD), Energy, State, Treasury, and the IMF. This report contains no recommendations. Treasury agreed with the report's findings and stated that Iraq has adequate funds to make and maintain capital investments that deliver services and foster economic growth. State provided technical comments. DOD had no comments. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-08-1031/html/GAOREPORTS-GAO-08-1031.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-08-1031/pdf/GAOREPORTS-GAO-08-1031.pdf GAO-08-1031 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-08-1031 Other Written Product GAO-08-1031; Stabilizing and Rebuilding Iraq: Iraqi Revenues, Expenditures, and Surplus; Budget functions Budget obligations Budget outlays Budget surplus Cost analysis Crude oil Data collection Economic analysis Economic development Economic growth Economic policies Exporting Financial management Foreign economic assistance Foreign governments Future budget projections International organizations Investment planning Investments abroad Iraq War and reconstruction Monetary policies Cost awareness Cost estimates Iraq Public Law 110-252