Iraq developmen
Iraq launched Sunday its 2010-2014 five-year development plan that involves the implementation of more than 2,700 projects at a total cost of about $186 billion, pan-Arab Al Hayat daily reports Monday citing Abdul-Zahra Al Hindawi, spokesman for the ministry of planning and development cooperation which is in charge of supervising the implementation of the plan.
The Iraqi government’s aim from the plan is to achieve an average annual economic growth of 9.38%, develop the infrastructure, reduce regional differences, provide 3.5 million jobs and diversify the economy of the oil-dependent country, the paper reports.
About $100 billion of the projects’ costs will be financed by the state budget and the remainder will be funded through local and foreign investments, Hindawi told the daily, adding that the plan will mainly focus on the oil and electricity sectors.
Newspaper website: http://international.daralhayat.com/internationalarticle/159609