Planning: More than 6,000 projects stopped, needing $ 100 billion

by **claud39** Tue Nov 10, 2020 7:29 am

Planning: More than 6,000 projects stopped, needing $ 100 billion

11/09/2020

Economy News - Baghdad

The Ministry of Planning warned, on Monday, that 6,250 projects face risks of stopping due to the current financial crisis, noting that the completion rates of these projects vary and require about $ 100 billion to complete them .

The ministry's spokesman, Abdul Zahra Al-Hindawi, said, "The financial crisis that is going through the world in general and Iraq in particular due to the Corona pandemic and the drop in oil prices threatens to stop about 6,250 projects in various sectors," noting that "the sums we need to complete these projects amount to 125 trillion dinars, what Close to 100 billion dollars . "

He added, "In light of the financial crisis, the ministry will focus on completing projects with advanced completion rates (60% or more) because they need small sums, with priority given to service projects in the health, education, roads, sewage and water sectors. And whose stoppage causes the loss of security, services, job opportunities and service. The Citizen . "

Concerning the upcoming budget, Al-Hindawi explained that "funds have been allocated towards strategic projects, especially projects that are intertwined with more than one sector, such as the agriculture sector, which is related to industry, transportation, and wide employment of manpower in addition to projects in the industrial and tourism sector, as Iraq has many qualifications and can employ shrines and monuments His legacy in this field opens a new door to financial revenues apart from oil . "

And he continued, "Iraq, which has been dependent on oil as a source of funding for its budget for decades, is not easy for it to move to another resource quickly, as the productive sectors need multiple stages of infrastructure, human resources and expertise to prepare them and prepare them as a financial resource that can finance the budget ."

Al-Hindawi stressed that "the private sector is the common denominator in activating the economy, and the Ministry of Planning is going ahead with forming a council for the development of the private sector to be run by the private sector itself, to contribute to drawing economic policy and real participation in achieving development ."

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