Spending the Dutch gas revenues Observations on 50 years of wealth - - PowerPoint PPT Presentation

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Spending the Dutch gas revenues Observations on 50 years of wealth - - PowerPoint PPT Presentation

Mar 11, 2024 208 likes •304 views

Spending the Dutch gas revenues Observations on 50 years of wealth Algemene Rekenkamer | Postbus 20015 | 2500 EA Den Haag 1 1959 We are rich! Rebuilding the country after World War II Giant natural gas reserves discovered (1959):

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Algemene Rekenkamer | Postbus 20015 | 2500 EA Den Haag

Spending the Dutch gas revenues

Observations on 50 years of wealth

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1959 – We are rich!

  • Rebuilding the country after World War II
  • Giant natural gas reserves discovered (1959): 4.4 trillion m3
  • Possible rise of alternative energy sources:
  • Focus on rapid exploitation

Spending the Dutch gas revenues | August 25, 2014

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1973 – Reevaluating revenues from gas

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Gas income: sharp fluctuations

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1995 – 2010: Fund for Strengthening of the Economic Structure (FES)

Spending the Dutch gas revenues| August 25, 2014

23% of gas revenues 80% investments in economic infrastructure

77% of gas revenues FES General budget

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SAI report 2014: did FES achieve its goals?

  • Some non-specific projects
  • Investments with debatable ‘additionality’
  • Dissolution of FES – contribution to general budget

What happened?

  • Fund criteria too vague
  • Decision-making not isolated from political process
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Discussion

If a resource fund is used:

  • What checks and balances can help governments use

resource funds to achieve maximum societal benefits?

  • What is the role of the SAIs?
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Algemene Rekenkamer | Postbus 20015 | 2500 EA Den Haag

http://www.rekenkamer.nl http://www.courtofaudit.nl/english @rekenkamer www.linkedin.com/company/ algemene-rekenkamer