The Ministry of Planning: Iraq needs $ 63 billion to implement vital projects

2016-09-21 17:34:33 | (Voice of Iraq) - Report: Omar Hussein

Confirmed the Ministry of Planning, said the Iraqi government to provide the amount of sixty - three billion dollars from next year 's budget for the implementation of projects described by the ministry of vitality, these projects are stalled due to the financial crisis that has wracked the country as a result of the low price of oil worldwide, and harness all the potential to meet the extended organization Daesh during Phase past. . more details in the context of the next report.

Lovers dramatic decline global oil market, and the war on organizing Daesh, a major financial crisis gripped Iraq resulted in a significant rise in rates of unemployment, poverty and declining level of growth, and stopped a large number of strategic projects and investment.

The Ministry of Planning confirmed that the repercussions of the financial crisis was large and that the ministry and left the government are determined to develop own processors to spare the country further losses.

One of the main problems is the large - scale projects that have stopped as a result of this crisis, which is no solution at this stage but to resort to the private sector in the light of the batsman recession for the public sector, which had the biggest favor in the implementation of these projects.

Investment projects reached six thousand project threshold, has re - examined and had to delete the two hundred and ninety - six projects , of which the sponsor to provide some more than ten trillion dinars (about nine million dollars).

As has been delayed two thousand one hundred and sixty - nine other projects with a total cost estimated at more than thirty - six trillion dinars , about (twenty - eight billion dollars), the total reduced amount and reached more Forty - seven trillion dinars, the equivalent of more than twenty - nine percent of the total cost, and forty percent of the remaining financial obligations, amounting to more than a hundred and twenty trillion dinars.

After all this reduction, remains for the government to provide an amount of seventy - two trillion dinars, equivalent to sixty - three billion dollars through the budget, to complete the remainder of the project, which is a necessary and vital, and did not include any new projects and view some ongoing projects as investment opportunities, or they are carried out on credit or in combination to ensure deliverables, especially those projects dye service.

The government hopes these steps, according to the Ministry of Planning, to complete the implementation of vital projects stalled during the financial crisis , the stage would raise the level of services provided to citizens.