201. Budgetary Predictions Cast Doubt on Rapid Iraqi Reconstruction
- Author:
- Michael Knights
- Publication Date:
- 08-2003
- Content Type:
- Policy Brief
- Institution:
- The Washington Institute for Near East Policy
- Abstract:
- If Iraq is to rebuild its infrastructure and restore its economy at the pace forecast by the Coalition Provisional Authority (CPA), it will need to bridge a major near-term financing gap by increasing capital inflows from outside the country and simultaneously improving its ability to absorb aid and investment. Oil revenues projected by the CPA budget through 2004 are overly optimistic, and Iraq's capacity to meet the levels of expenditure outlined in the budget are questionable. Without multilateral funding and much improved security and investment environments, Iraqi economic recovery is likely to develop at a slower pace than anticipated.
- Topic:
- Security and Religion
- Political Geography:
- Iraq, Middle East, and Arabia