Show us the money: Oil revenues, undisclosed allocations and accountability in budgets of the GCC States

摘要

This paper traces the historical evolutionudof the transparency, independence andudaccountability of public revenues andudexpenditures in each of the GCC countries.udBeginning with the discovery of oil in 1932,udspecific focus is placed on that part of oiludrevenues that are treated as undisclosedudallocations, including military expenditures,udoverseas transfers and royal allowances. Itudargues that with the exception of Kuwait, thereudis strong evidence to suggest that significantudamount of oil revenues are undeclared,udwhich go either into private hands or intoudundisclosed government transactions.