Economist: 6080 projects need to be comprehensive reassessment

August 24, 2015

BAGHDAD / Center Brief for the Iraqi Media Network (IMN) - said the economic and financial expert Majid picture that the Ministry of Planning and a review of the 6080 ongoing projects which have been allocated about 280 trillion dinars in the past years and auditing money spent and retrieve what can be retrieved.

She suggested on Sunday, the Ministry of Planning and Development Cooperation cancel 296 executing ongoing projects at a cost of more than 10 trillion dinars as a result of the economic crisis in the country, due to lack of financial revenue.

And between the picture's (IMN), that it "has been canceled 296 projects as a first step, and must be at the Ministry of Planning to reconsider about 6080 projects and follow up the money spent by and try to retrieve the money, especially since most of which has not been implemented or carried out at rates low achievement",

He explained that "the current phase needs to be a comprehensive assessment of the projects implemented and rely on the priorities in the continuation of these projects."

The majority of the provinces were not included ministries and bodies and new projects within its plans for the current year, because of the austerity in expenses following the sale of low oil prices in the world markets, which has impacted heavily on the federal budget.