Mazhar Muhammad Saleh: The government concluded nearly 19,000 contracting contracts worth $ 100 billion
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Mazhar Muhammad Saleh: The government concluded nearly 19,000 contracting contracts worth $ 100 billion
by RamblerNash on Tue Sep 29, 2020 1:19 am
The appearance of Muhammad Saleh
09/28/2020
Economy News - Baghdad
The prominent economist, Dr. Mazhar Muhammad Salih, confirmed that the government has nearly 19,000 contracting contracts worth nearly $ 100 billion.
Saleh said, in an article published on the Iraqi Economists Network, seen by "Al-Iktissad News", that launching projects in Iraq has a huge number of commitments, and the advance payment policy is used as one of the encouraging phenomena for the contracting sector, which amounts to 10% of the total contracting. That the number of projects increased to 6 thousand projects and nearly 19 thousand enterprises, a value of nearly 100 billion dollars.
He noted that the state pays a risk premium of 10% for the delay in approving annual investment projects, which takes the form of advances provided to contractors.
He explained that the annual material achievement of government projects ranges between 8% -28% in the best case, explaining that the decision to stop incomplete projects and pay with terms cost the country to pay bonds or commit to pay them in the amount of about 5 trillion dinars for the cost of semi-completed or unfinished government projects.
https://economy-news.net/content.php?id=22019
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