Iraq is expected to see an “economic breakthrough” in the coming 5 years

April 2, 2010 · Posted in NEWS
Friday, April 2nd 2010 11:36 AM Friday, April 2nd 2010 11:36 AM

Baghdad, April 2 (AKnews) - The Ministry of Planning and Development Cooperation on Friday announced that it had put the development plan into effect which will continue until 2014 and that the next five years will see an “economic breakthrough”.

Ali Baban, Iraqi Minister of Planning, said the plan had economic and integrated development dimensions which seeks to end the unemployment issue in the country though focusing on the major sectors like oil, electricity, industry and agriculture.

“The plan will begin with revitalization of the economy of financial income to the Iraqis through the revitalization of the role of investment and vital institutions Iraqis need in the current period.” Baban added.

The five-year plan will contribute to easing the economic reality as it focuses on the development of oil and electricity, industry and agriculture sectors that have been neglected in previous years due to lack of planning, according to the Minister.

Upon completion, the plan would lead to economic growth by up to about 9.4% through the creation of “many” jobs by 2014, Baban noted.

The Ministry of Planning said recently the plan aimed at providing more than 2700 projects, to the tune of US $ 186 billions funded by the federal budget devoted to it.

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