PROJECTS: Iraq needs $105bln for stalled projects

SectorReal Estate

Iraq needs nearly 126 trillion Iraqi dinars ($105 billion) to complete thousands of stalled projects including 42 housing complexes, the Arab country's Planning Minister was reported on Wednesday as saying.Khaled Batal said the accumulation of nearly 6,250 delayed or stalled projects over the past years has forced the government to stop approval of new projects in the budget."There are nearly 6,250 delayed or frozen projects which need around 125 trillion dinars to be finished...they include 42 housing complexes and scores of health facilities," Batal told the Iraq Aliqtisad News network.The Minister said Iraq needs a "real plan" to tackle stalled projects and that priority must be given to vital projects including those in the health and housing sectors.(Writing by Nadim Kawach; Editing by Anoop Menon)( This article is provided for more...